Regulation should be ‘smarter’, not ‘less’ – ECB’s Donnery
Financial resilience cannot be sacrificed under banner of simplification, senior supervisor says
Supervisory authorities should aim to make banking regulation simple but not too light, a member of the European Central Bank’s supervisory board has said.
Delivering a keynote speech in Frankfurt today (April 29), Sharon Donnery acknowledged that the current regulatory framework was complex.
She said the framework was not “the product of a single overarching design”, but the result of an “incremental accrual of new objectives and tools over several decades”.
However, Donnery emphasised that
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