ECB Restructures To Strengthen Banking Supervision
Law360, London (July 29, 2020, 3:31 PM BST) -- The European Central Bank said Wednesday that it is overhauling its supervision arm for the first time since 2013 in order to strengthen its oversight of the bloc's banks.
The ECB said that it plans to change the organizational structure of its supervisory arm by creating two additional departments that will concentrate on regulating risks at banks. One of the new departments will concentrate on supervising risk at banks according to their business models. The other will oversee the strategies that lenders have put in place on-site to manage risks.
The central bank said it has decided to reorganize its supervisory...
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