On Thursday 21 September, the European commissioner for financial services Valdis Dombrovskis referred to the legislative proposal aiming to reinforce the European supervisory architecture, which was presented by the Commission earlier that week (see EUROPE 11866) at the annual conference of the European Systemic Risk Board (ESRB) in Frankfurt.
When asked about the possibility of transforming the ESRB into a more powerful macro-prudential supervisory institution within the EU, with...