The head of the European Banking Authority, Andrea Enria, will become the Single Supervisory Mechanism chief in charge of overseeing Europe’s largest banks. The Council endorsed his nomination on Thursday (6 December), concluding the process after the European Parliament also gave its green light.
Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.
The European Commission on Wednesday (14 March) proposed new measures requesting banks to raise more capital against loans turning ‘toxic’ and to develop a European market to sell ‘bad loans’ weighing down their books.
European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans to all banks as part of an action plan to tackle the risk of non-performing loans (NPL).