Czech central bank concerned over Esma's power
National supervisors should be responsible for their domestic institutions, says Czech National Bank
The Czech National Bank (CNB) has expressed concern over the balance of power between national supervisors and the European Securities and Markets Authority (Esma). As one of three new European supervisory authorities, Esma will be responsible for writing many of the detailed rules required by incoming regulations and directives, but it also has some direct supervisory powers – over credit rating
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