EBA’s Huertas: credible stress-test is first task

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Just over two years ago, Jacques de Larosière, a former governor of the French central bank, called for a more integrated system of financial supervision in the European Union (EU), in which all national regulators would surrender some power and a set of three muscular new authorities would watch over the banking, insurance and securities markets. On January 1 this year, those authorities rose from the ashes of their predecessors and got to work immediately. This is regulation in post-crisis

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