Analysts applaud passage of ESRB, fret over practical concerns

European Parliament

Commentators welcomed European Parliament's approval on Wednesday of a new supervisory structure for the continent, but flagged worries that the new bodies would face an uphill struggle from the outset.

European lawmakers' assent was the final stage in the process, and the European Systemic Risk Board (ESRB) and three European Supervisory Authorities (ESA) - a banking supervisor based in London, a securities authority in Paris, and an insurance regulator in Frankfurt - will be formally operation

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