ECB bank-supervision plans adjusted to address German objections

12/10/2012 | Reuters

In a proposed compromise intended to assuage German concerns, only euro-zone banks with assets exceeding €30 billion would fall under daily supervision of the European Central Bank. The offer, from EU president Cyprus, aims to smooth the way for agreement by leaders meeting this week on an initial step toward a banking union. The proposal, however, would allow the ECB to intervene in smaller banks under some circumstances.

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