Irish deputy lays out arguments for banking union and SSM

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The Central Bank of Ireland

The deputy governor of the Central Bank of Ireland, Stefan Gerlach, yesterday (January 21) laid out his arguments on why a banking union is important for any monetary union to function well, and why it is natural to locate a single supervisory mechanism (SSM) with, or at least "close to" the central bank in such a union.

Explaining the need for an SSM, Gerlach highlighted that putting distance between the regulator and the banks it regulates "can help improve the capacity for challenge and

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