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MNI BRIEF: ECB Signs Supervisory MoU With 6 EU Member States

(MNI) LONDON

Memorandum of Understanding intended to boost cooperation on linked banking activity

True

The ECB has signed a Memorandum of Understanding (MoU) with the six European Union members that are not part of the Single Supervisory Mechanism - the Czech Republic, Denmark, Hungary, Poland, Romania and Sweden - to share information on supervisory and cross-border supervised institutions issues, methodologies, approaches and priorities.

“The ECB is keen to boost cooperation with the NCAs of Member States not participating in European banking supervision because their banking sectors are considerably interlinked,” a statement said.

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The ECB has signed a Memorandum of Understanding (MoU) with the six European Union members that are not part of the Single Supervisory Mechanism - the Czech Republic, Denmark, Hungary, Poland, Romania and Sweden - to share information on supervisory and cross-border supervised institutions issues, methodologies, approaches and priorities.

“The ECB is keen to boost cooperation with the NCAs of Member States not participating in European banking supervision because their banking sectors are considerably interlinked,” a statement said.

Keep reading...Show less