07/02/2014 (Agence Europe) - Bank supervision: consultation about cooperation between ECB and national supervisory bodies. The European Central Bank has launched a consultation exercise that will run until 7 March on the draft regulation on the details of cooperation between the ECB and national supervisory bodies, both within and outside the eurozone, once the ECB fully assumes eurozone bank supervisory responsibilities in November. The document lays down rules and procedures for the overall surveillance of the financial system by the ECB, along with micro- and macroprudential work connected with the single bank supervision mechanism (SSM), the language system and penalties for breaking the rules. A public hearing will take place in Frankfurt on Wednesday 19 February on an advisory document, the final version of which will be agreed by May. (MB/transl.fl)