EU report moots supervisory role for ECB

BRUSSELS - Jacques de Larosiere's strongly anticipated report on the future financial supervision of the EU was released on February 25 and looks set to draw the lines of battle for the EU regulatory community. Many of the report's 31 recommendations were not surprising - including a leading macro-supervisionary role for the European Central Bank (ECB) to address systemic risks. But much more were unexpected, specifically the evolution of the Level 3 committees into micro-economic supervisors

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