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ECB to Regulate 120 of Europe's Largest Banks

A member of the Executive Board of Germany’s central bank, Deutsche Bundesbank, says in less than a month, the European Central Bank (ECB) will assume "direct supervision" for 120 of Europe’s largest banks. At the Brookings Institute in Washington Wednesday, Andreas Dombret said 80 percent of the aggregated balance sheet of the euro-area banking system soon will be under a single regulator. Dombret said it is the biggest step toward European financial integration since the...

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