Banking supervisory chief to be named in December: ECB

19th November 2013, Comments 0 comments

The head of Europe's new single banking supervisory authority is likely to be named late in December, European Central Bank vice president Vitor Constancio said Tuesday.

"We plan and we anticipate that the European Council will be in position to take the final decision about the appointment by late in December," Constancio told a banking congress in Frankfurt.

The ECB will assume the role of Europe's new single banking supervisory authority at the end of 2014 and is currently in the process of hiring new staff.

Constancio said the central bank expects to release new details of the audit it has launched of Europe's banks in the run-up to the launch of its supervisory duties.

"We will communicate more details also about the stress test. We hope that we can reach an agreement with the European Banking Authority to be able to communicate also by the end of January something else about the stress test and further details about the asset quality review," he said.

© 2013 AFP

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