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ECB to supervise five Bulgarian, eight Croatian banks

FILE PHOTO: European Union flags flutter outside the European Central Bank (ECB) headquarters in Frankfurt, Germany December 14, 2017. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central Bank will take direct supervision of five banks in Bulgaria and eight in Croatia, countries that have both applied to join the euro zone, it said in a statement on Friday.

Of these banks, almost all are subsidiaries of other significant banking groups that are already supervised by the ECB, which oversees the biggest financial institutions in Europe’s banking union.

For a list of banks whose supervision is taken over by the ECB, please click on: here

Reporting by Balazs Koranyi; Editing by Chizu Nomiyama