ECB clarifies national supervisory discretions
Guide aims to assist joint supervisory teams in assessing significant institutions
The European Central Bank (ECB) published a guide and regulation on the ability of eurozone countries' regulators to interpret European Union banking supervision law on March 24.
There are a large number of options and national discretions (ONDs) available to national competent authorities. The ECB's 2015 banking supervision report identified ONDs as a major obstacle to creating a "level playing field" in financial services.
The guide aims particularly at assisting the joint supervisory teams
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