MEPs strike deal on bank supervision regime

MEPs and governments have reached a deal on legislation giving the European Central Bank (ECB) new powers to directly supervise the European banking sector.

Under an agreement struck on Tuesday 19 March 2013 the ECB will supervise an estimated 150 banks, including all institutions with balance sheets holding over €30 billion as well as the three biggest banks in each country.

• Primary Source

ESO: Background information: Ministers agree deal on EU banking union http://www.europeansources.info/record/ministers-agree-deal-on-eu-banking-union/

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