Consolidated supervision row brews

The European Banking Federation (FBE) -- an organisation formed of European banking associations -- issued a strongly worded letter to internal markets commissioner Charlie McCreevy at the end of January on the subject of consolidated and co-ordinated supervision of banking groups by home regulators in EU countries. Banks favour consolidated supervision because it will dramatically lower their compliance costs.

"The current CRD proposed by the Commission lays some of the groundwork necessary

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