Papademos on macroprudential supervision
The European Central Bank and the Eurosystem are well placed to assume the tasks of macroprudential supervision, said Lucas Papademos, the vice president of the ECB.
Papademos said that central banks on the Continent were generally well positioned to take on role in macroprudential supervision given the increasing financial integration in Europe, and within the euro area in particular, and the rising number and systemic relevance of cross-border banking groups.
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