ECB urged to follow Fed’s lead on ‘material risks’
Senior banker at JP Morgan’s EU subsidiary backs US-style approach to streamlining supervision
The European Central Bank should follow the lead of the US Federal Reserve and focus its supervision on “material risks” faced by individual lenders, according to a senior banker at JP Morgan.
“Prioritising supervisory activity based on material risk on a firm level would be very key for us,” said Jessica Kaffren, head of operations, outsourcing and technology, and a member of the management
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