ECB’s supervisory board must oversee all banks, Draghi says
The European Central Bank's supervisory board will be able to "assert control" over all banks in member states, as even smaller financial institutions may turn out to be systemically important, Mario Draghi, president of the European Central Bank (ECB) said today (November 23).
Draghi told an audience in Frankfurt that "large cross-border banking conglomerates" are not the only institutions to possess the capacity to destabilise the financial system, because of the strength of its interlinkages
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