Brussels, 03/12/2013 (Agence Europe) - On the fringes of the Competitiveness Council on Monday 2 December, the EU Council of Ministers reached a cooperation and exchange of information agreement with the European Central Bank (ECB) for the future single supervision mechanism (SSM) for banks.
The agreement in the form of a memorandum of understanding (MoU) requires the ECB to report to ministers when it starts directly supervising the 130 big banks in the eurozone in November 2014. The chair...