ECB reaches agreement with European Parliament over SSM minutes

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The European Central Bank last night reached agreement with the European Parliament's negotiation team over the level of scrutiny the ECB will be subjected to by the lawmakers in its new role as banking supervisor.

The European Parliament yesterday postponed a vote to approve the Single Supervisory Mechanism (SSM), the new European banking supervisor that is due to be created within the ECB, to try and win more concessions from the ECB over the appointment of the chair and vice-chair of the SSM'

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