ECB sets out protection scheme monitoring guidelines
Central bank aims to harmonise national practices across eurozone
The European Central Bank has set out guidelines to improve how it works with national supervisors in the eurozone to monitor institutional protection schemes (IPSs).
Banks can form institutional protection schemes by agreeing to co-operate to safeguard their joint liquidity and solvency. The ECB issued two sets of guidelines on November 15, both aimed at setting uniform standards for itself and for all eurozone national competent authorities.
If supervisors recognise a bank as a member of an
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