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European banks are subject to stronger supervision than many US peers and have proved robust and stable during market turmoil, Bank of France Governor Francois Villeroy de Galhau said.
Speaking at Bloomberg’s Future of Finance forum in Paris, the central banker said European lenders also benefit from more diversified business models that perform well when interest rates rise.
“Our banks are robust, with substantial capital and liquidity buffers,” said Villeroy, who sits on the European Central Bank Governing Council. “They are all subject to a) stringent Basel requirements and b) to single and strong supervision within the Banking Union since 2014, which on these two regards makes a big difference with many US banks.”...
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