European Banking Supervision, Six Years On

On November 4, 2014, the European Central Bank (ECB) took over the licensing authority for all banks in the euro area; direct prudential supervision of the area’s most significant banking groups, now representing over €21 trillion ($25 trillion) in total assets; and oversight of supervision by national authorities of thousands of less significant banks, representing an additional €4.7 trillion in total assets. This session will provide the opportunity to take stock of this major reform endeavor with the ECB’s most senior bank supervisory official.

Joining this episode of Financial Statements were:

Host:

• Nicolas Véron, Senior Fellow, Peterson Institute for International Economics (PIIE)

Guests:

• Andrea Enria, Chair of the Supervisory Board, European Central Bank
• Tamim Bayoumi, author of Unfinished Business: The Unexplored Causes of the Financial Crisis and the Lessons Yet to be Learned