NBB’s Praet backs DG Competition for EU resolution authority
The mandate of the Directorate General for Competition (DG Competition) should be extended to allow it to resolve the failure of banks across the European Union, Peter Praet, an executive director at the National Bank of Belgium, has said.
In an interview with Central Banking journal, published on Monday, Praet said: "A European resolution authority like the FDIC will be difficult to put in place, but the resolution mechanism can be significantly improved through DG Competition."
Praet said DG
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