ECB Backs Cross Border Safeguards
ECB supervisor Pedro Machado says the EU should introduce safeguards ensuring banks support foreign subsidiaries. This could unlock 200 billion euros in liquidity and boost cross border mergers.
European Central Bank supervisor Pedro Machado stated on Tuesday that the European Union should introduce cross-border safeguards to ensure banks support foreign subsidiaries. The proposal aims to unlock €200 billion in liquidity currently trapped by national regulators. Removing these barriers could finally jump-start cross-border bank mergers across the euro area.
