The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Opinion

Why is the ECB so much murkier than the Fed?

Andrea Enria must open up the European Central Bank’s (ECB) bank data and supervision to scrutiny, but he faces resistance, and not just from banks.

don-banner-column-blank-780



Two issues stood out during Andrea Enria’s hearing at the European Parliament in November, when he successfully defended his candidacy to lead the eurozone’s bank supervisor.

One was the need for stronger action to level Europe’s non-performing loan (NPL) mountain – no surprises there. But Enria seemed just as passionate, too, about the need for greater transparency at what is perhaps the world’s most powerful bank supervisor.

This ambition for greater transparency is something the ECB officially confirmed in February, in a statement on Enria’s priorities in his new job.



Andrea-Enria-R-780.jpg

The ECB's Andrea Enria: 'I found myself sometimes in a minority on my own board at the EBA'



Enria is only the second head of the ECB’s Single Supervisory Mechanism (SSM), set up in 2014. Strengthening the institution is therefore still the biggest task. Making its workings and data less opaque is vital.

However, this will be hard, not just due to the sheer complexity of modern bank regulation, but also due to the ECB and SSM’s own governance: dominated by national authorities, with primarily national rather than European interests.









You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree