ECB tight-lipped on banking supervision

According to German newspaper Boersen Zeitung, the ECB has issued a circular to European Union authorities arguing strongly that national central banks should continue to play a key role in banking supervision.

The German newspaper Boersen Zeitung reported that it had obtained a copy of a 10-page document which asserts that central banks' continued involvement in banking oversight was key to the maintenance of financial stability. The newspaper said that the ECB Governing Council adopted the

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