AFME comment on EU appointment of ECB as European bank supervisor

13 December 2012

Simon Lewis, chief executive of the Association for Financial Markets in Europe, commented on the agreement by European finance ministers on the European Central Bank (ECB) becoming a common bank supervisor.

“ECOFIN’s decision should be welcome as a major step forward and also an essential element in resolving the eurozone crisis. The Single Supervisory Mechanism forms a key component of banking union and the fact that Member States have now reached agreement is a welcome demonstration of the strong political commitment to this important project. It is essential that this momentum is maintained.“

"Banking union should enhance the Single Market as a whole and AFME supports the significant effort to achieve fair and balanced decision-making for the European Banking Authority (EBA). The EBA should also have authority to develop a supervisory handbook for the Single Market as a whole in order to ensure quality, consistent supervision for all banks in Europe.“

Press Comment

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