Auditors Strike Deal With ECB To Increase Transparency

Law360, London (August 28, 2019, 6:42 PM BST) -- The European Central Bank will hand over any documents needed by Europe’s top financial guardian to assess its supervisory work, the European Court of Auditors said Wednesday after previously admonishing the ECB for withholding information.

The ECB and the panel of auditors, which is appointed by the European Council to improve financial management in the European Union, reached an agreement Wednesday to share information, allowing the auditors to more easily access information needed to check up on the ECB’s banking supervision.

The ECB said the agreement, which will be signed on Oct. 9, will enhance banking supervision across the European Union....

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