Friday, 19 October 2012

Europe: introducing the single supervisory mechanism - timetable agreed

A timetable for the introduction of the single supervisory mechanism, including a new supervisory role for the European Central Bank over banks in the Eurozone, was agreed yesterday by the European Council: see here (pdf). The Council concluded that the legislative framework should be agreed by 1 January 2013 with implementation later in 2013.

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