ECB’s Vasiliauskas calls for EU-wide supervision of big banks

FRANKFURT (Reuters) – Big banks based in the European Union should be supervised jointly by local authorities and the European Central Bank even if they are not in the euro zone, ECB policymaker Vitas Vasiliauskas said on Tuesday.

“An EU-wide banking union would allow for a centralized supervisory approach for all of the EU’s largest systemically important banks, regardless of host-country membership in the monetary union,” Vasiliauskas, who heads Lithuania’s central bank, said.

“We need to do a better job at convincing decision-makers in non-euro area countries to enter into the “close cooperation” regime (with the ECB).”

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