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MNI BRIEF: Lagarde Calls For Closer Bank, NBFI Supervision

(MNI) London

Banking supervision needs to be “intrusive and as granular as possible,” ECB president Christine Lagarde said in an interview published Wednesday, following the collapse of a number of financial institutions in the US and Switzerland.

Basel III rules should be applied “scrupulously,” and to a “large set of banking institutions, not to a narrow group. Supervisors should also look very carefully at the non-bank sector to ensure that there are no significant risks on the horizon, she said - echoing recent comments made to MNI by the ECB's Supervisory Board chair Andrea Enria (see Interview with Market News International).

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
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