ECB Focuses Bank Oversight on Biggest Issues to Boost Efficacy

The European Central Bank will concentrate its bank supervisory work on the most egregious deficiencies, in an effort to increase its effectiveness.

Starting in July, the ECB will stop monitoring on a regular basis if banks are addressing low-level issues the regulator has identified, it said in a newsletter article on Wednesday. Instead, its enforcement work will focus “on the most severe open findings,” the ECB said.