Eurozone needs major resolution reforms, Enria says

Andrea Enria
Andrea Enria
Photo: Philippe Bussin/European Parliament

Andrea Enria, the European Central Bank’s senior banking supervisor, has called for major reforms to the way the European Union deals with failing banks.

The head of the ECB’s single supervision mechanism said policy-makers had assumed that in most cases, small and medium-sized banks “would not raise concerns for financial stability”. They assumed these banks “could be dealt with under ordinary liquidation procedures at the national level”, he said in a speech in Frankfurt on January 15.

“Howe

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