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ECB Backs Plans to Centralise EU Financial Supervision
The case
The European Central Bank (ECB) has backed the European Commission’s efforts to deepen integration of EU capital markets, supporting moves toward a more centralised supervisory framework as part of advancing the Capital Markets Union.
Source: Reuters Legal
The commentary
The ECB stressed that any transfer of supervisory responsibilities from national authorities to EU level should be implemented gradually in order to minimise market disruption and preserve financial stability. The Commission’s proposal will now enter negotiations between EU member states and the European Parliament before any final agreement is reached.
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