European Central Bank Establishes New Task Force to Simplify Banking Supervision
According to Bloomberg, the European Central Bank has established a new task force led by the central bank governors of Germany, France, Italy, and Finland, aimed at simplifying Europe's banking supervision rules. This move may trigger internal tensions with the ECB's supervisory department, which insists on maintaining high standards of regulation and fears that the simplification measures might be used by political forces to push for deregulation in the banking industry.
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