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Italy central bank laments lack of coordination among EU bank supervisors
October 25, 2017 / 3:30 PM / a month ago

Italy central bank laments lack of coordination among EU bank supervisors

PISA, Italy, Oct 25 (Reuters) - Overlaps between different European banking regulators and national central banks create significant coordination problems, the Bank of Italy chief supervisor said on Wednesday.

“In the current context, the fact that supervisory powers can be exercised by national authorities, ECB and EBA (European Banking Authority) creates significant coordination problems, for example as regards stress tests, ” Carmelo Barbagallo told a conference in Pisa.

He said a recent proposal by the European Commission that would strengthen the supervisory powers of the EBA “does not seem to go in the right direction.” (Reporting by Silvia Ognibene)

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