ECB supervisors to attend some bank board meetings to raise concerns

[June 23, 2016]  FRANKFURT (Reuters) - European Central Bank supervisors will occasionally attend bank board meetings both to observe and to raise concerns, Daniele Nouy, the ECB's top supervisor said on Thursday.

Daniele Nouy at Canary Wharf in London November 28, 2014. REUTERS/Neil Hall

"From time to time, supervisors may attend all or parts of board meetings as observers," Nouy told a conference in Frankfurt. "This allows them to observe, in a more practical sense, how effectively a board is functioning."

"Supervisors might also attend board meetings in order to present certain issues such as the outcome of the SREP (Supervisory Review and Evaluation Process), specific concerns regarding risk or other supervisory findings," Nouy added.

(Reporting by Balazs Koranyi; Editing by Dominic Evans)

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