EU parliament approves new bank supervisory mechanism

[JURIST] The European Parliament [official website] approved legislation [press release, text] Thursday that creates a system of banking supervision overseen by a new centralized bank supervision authority supported by the European Central Bank (ECB) [official website]. The regulation puts in place a single supervisory mechanism that will cover [WP report] 150 of the largest banks in the 17 Eurozone nations, and allows other EU member states that do not utilize the euro to opt into the system. In a press...

Source: http://jurist.org/paperchase/2013/09/eu-parliament-approves-new-bank-supervisory-mechanism.php

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