Common deposit insurance essential for financial stability, says ECB

Central bank says tighter financial conditions are putting pressure on households and businesses

Luis de Guindos
Adrian Petty/ECB

The eurozone needs to complete the banking union in order to preserve financial stability, the European Central Bank said today (May 31).

The central bank’s financial stability review stresses that, although the region’s banks have remained resilient following the collapse of Silicon Valley Bank (SVB) in the US and Credit Suisse in Switzerland, stability “remains fragile”.

Against this backdrop, the review says: “It is essential to complete the banking union and, in particular, to establish a

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