Supervisory colleges to take lead - ECB's Trichet
Colleges of supervisors should become the main supervisory interface for banking groups in Europe, said Jean-Claude Trichet, the president of the European Central Bank.
Trichet said that the colleges will improve supervisory cooperation and efficiency by eliminating unnecessary duplication.
The president also said that the establishment of colleges needed to be accompanied by a clarification of the legal framework.
Click here to read the speech
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