Entering a new era of banking supervision

The ECB has outlined the procedures behind the upcoming banking supervision process to help to improve confidence in eurozone banks, says Danièle Nouy

IN A few weeks — as part of the establishment of the banking union — Europe will embark on a new era of banking supervision.

On November 4, the European Central Bank will start directly supervising the 120 biggest banking groups of the euro area, covering more than 85% of banking assets, and indirectly supervising roughly 3,400 smaller institutions.