FT: ECB wants a role in banking supervision

30 January 2002

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The European Central Bank has put itself on a collision course with European financial regulators, including Britain's Financial Services Authority, over the ECB's ambitions to play a role in banking supervision. Although the ECB has not made any formal proposals, officials have made it clear they want to see national central banks and the ECB playing a central role in banking supervision in the EU. The ECB believes it has a right to get involved because in a crisis it would face calls to bail out failing banks.

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