January 30, 2020 / 8:30 AM / 18 days ago

ECB pledges to remove hurdles to bank mergers in euro zone

FILE PHOTO: The European Central Bank (ECB) logo is pictured before a news conference on the outcome of the meeting of the Governing Council in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski

FRANKFURT (Reuters) - The European Central Bank’s chief supervisor pledged on Thursday to remove some hurdles to cross-border bank mergers in the euro zone, such as restrictions on moving cash between subsidiaries in different countries.

“ECB Banking Supervision is considering a range of options, such as enhancing the possible role of group support agreements for subsidiaries in banking group’s recovery plans,” Andrea Enria told bank representatives in Frankfurt.

“We are also open to facilitating the granting of cross-border liquidity waivers at the solo level to the extent possible within the current legislative framework.”

Reporting By Francesco Canepa; Editing by Balazs Koranyi

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below