The European Commission wants the European Central Bank to act as the supervisor for all major banks in the euro area, German business daily Handelsblatt reported Friday.
The Commission is expected to put forward a proposal in this regard in September. According to the plan, the respective national authorities will be supervising the day-to-day activities of the banks and the ECB will intervene whenever there is a "dangerous risk."
Earlier, Germany had indicated that it would like the central bank to supervise only 25 biggest banks of the currency bloc.
by RTT Staff Writer
For comments and feedback: email@example.com