April 11, 2019 / 1:14 PM / 15 days ago

Euro zone bank consolidation would strengthen bank union -ECB's Villeroy

WASHINGTON, April 11 (Reuters) - Cross-border consolidation of euro zone banks would be welcome because it would help strengthen the European Union’s banking union and help better allocation of savings, the head of the French central bank said.

Speaking at an event in Washington Francois Villeroy de Galhau also said that investors should not expect euro zone banks to return to levels of return on equity from before the euro zone crisis, because of the doubling of their capital that was necessary to safeguard them against a new crisis. (Reporting By Jan Strupczewski Editing by Francesco Canepa)

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