Noyer Says All Euro Banks Must Be Supervised by ECB, FAZ Reports
This article is for subscribers only.
European Central Bank Governing Council member Christian Noyer said the ECB must have oversight of all euro-area banks when it takes up its new role as a supervisor, Frankfurter Allgemeine Zeitung reported, citing an interview.
The ECB, which is due to take the role from January under a proposal by the European Commission, “must cover, in any case, all 6,000 banks within the euro area,” FAZ quoted Noyer as saying. “It’s better to forget about the entire project if it only includes the 20 biggest banks.”