Banking union needs political courage – senior ECB supervisor
MREL ratios only gradually phased in while deposit insurance is non-existent, Angeloni says
The European Union’s politicians should pass the laws necessary to implement major parts of the bloc’s banking union, Ignazio Angeloni said on November 22.
“The banking union at present consists of perhaps one pillar and-a-half out of the three that were initially foreseen,” the European Central Bank supervisory board member told an audience in Frankfurt. The EU’s Bank Recovery and Resolution Directive had given supervisors “a framework to deal with failing banks,” he said.
“The Single
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