ECB wants ESAs to focus on ‘European dimension’
Central bank says supervisors should be reshaped to better promote European interests
The three European Supervisory Authorities (ESAs) should be encouraged to pay greater heed to the “European dimension”, as opposed to national interests, the European Central Bank(ECB) says in a report published on July 7.
The ECB recommends a package of new powers, governance reforms and potentially the creation of a new capital markets supervisor, in the report, which was issued in response to a consultation by the European Commission.
The ESAs at present comprise the European Banking
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