ecb speech, 2006-05-11
Moreover, I expect that a number of EU initiatives that have been already adopted or are underway should significantly reduce the policy-related obstacles to cross-border banking consolidation: I would just mention the European Commission's review of the regulatory provisions underpinning the supervisory approval process for qualifying shareholdings, the ongoing work by the level 3 Lamfalussy committees to enhance supervisory convergence and cooperation, and the recent adoption of the cross-border mergers directive.
Sentiment: neutral
Topic: financial_stability