ECB seeks bigger role in oversight of banks

GERMANY - The European Central Bank is aiming to reshape bank oversight in the European Union by giving itself a more prominent role.

The ECB, concerned about Europe's ability to keep its financial system stable and to handle a crisis, wants to turn its existing yet relatively powerless banking supervision committee into the premiere body in the EU for coordinating supervision, say people familiar with the situation. The task is highly decentralized in Europe - dispersed on a national level am