Plan Grants ECB New Powers to Issue Banking Licenses in EU
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Under a proposed EU plan, the ECB would have sole power to grant banking licenses and will be given supervisory powers that will help it create a euro zone banking union.
Expected to be revealed on Sept. 12th, the new proposal will also give the ECB discretion over which banks to supervise directly, including banks that pose a systemic risk and excluding smaller banks. National regulators will retain control over some aspects of bank regulation such as when and how to close a bank.
The plan is currently being drafted by the European commission.
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Expected to be revealed on Sept. 12th, the new proposal will also give the ECB discretion over which banks to supervise directly, including banks that pose a systemic risk and excluding smaller banks. National regulators will retain control over some aspects of bank regulation such as when and how to close a bank.
The plan is currently being drafted by the European commission.
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this sis a Kiler Stock!
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Michael Caliazzo on Sep 2, 2012 02:16 PMMark as Spam | Reply to this comment
Warren Buffet is fatter than Rosie Odonnell!