Draghi - ECB should supervise all euro zone banks

FRANKFURT Fri Nov 23, 2012 5:16am EST

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FRANKFURT Nov 23 (Reuters) - The European Central Bank should supervise all euro zone banks, ECB President Mario Draghi said on Friday, adding that those EU countries not using the common currency should have the possibility of participating in joint supervision.

"To preserve financial stability, the Supervisory Board would be able to assert control over all banks in participating countries," Draghi said in a keynote speech to the European Banking Congress in Frankfurt.

"All member states, also the ones that have not adopted the euro, should have the possibility of participating in the single supervisor," he added.

Draghi also said that ideally, the legal basis for joint euro zone banking supervision should be in place from January 2013. (Reporting by Eva Kuehnen and Paul Carrel)

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