FRANKFURT (Reuters) – Banking supervision in Europe must not be reduced and the sector’s volatility in recent weeks illustrates the need to pay attention to the riskiest parts of the business, Andrea Enria, the chairman of the bank, said on Tuesday. Supervisory Board of the European Central Bank (ECB).
“Becoming more risk-driven does not mean we are less intrusive (…). On the contrary, we are increasingly emphasizing a structured progression of our supervisory interventions when the progress of the banks are behind clearly established timetables,” he said on Tuesday.
Supervisors need to take a closer look at how banks manage the risk of rapidly rising interest rates, Andrea Enria added.
The Chairman of the Supervisory Board of the European Central Bank (ECB) also expressed concern about the recent volatility in Deutsche Bank’s share price and the significant nervousness of investors.
(Report Balazs Koranyi, written by Francesco Canepa; Diana Mandiá, edited by Blandine Hénault)
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