COURT OF JUSTICE OF THE EU / Banks

ECB's direct supervision of regional bank of Baden-Württemberg is legitimate

Brussels, 16/05/2017 (Agence Europe)

As single supervisor of the major bank groups of the Eurozone, the European Central Bank (ECB) is within its rights directly to supervise the Landeskreditbank Baden-Württember-Förderbank, the investment and development bank of the German Land of Baden-Württemberg, the General Court of the EU said in a judgement returned on Tuesday 16 May (case T-122/15).

As part of banking union in the Eurozone, the ECB directly supervises nearly 120 large bank groups. These are selected on the basis of...