The European Central Bank may soften its demands for some banks in the euro zone...
FRANKFURT - The European Central Bank may soften its demands for some banks in the euro zone to raise capital and offload bad loans before merging to help speed up consolidation in the profit-starved sector, one of the ECB’s top supervisors said on Thursday.
Yves Mersch, the vice chair of the ECB’s supervisory arm, said many of the hurdles in the way of mergers and acquisitions among euro zone banks were outside the ECB’s remit and related to differences in national laws and practices. He said the ECB would “appropriately reflect the synergies reaped by mergers” and avoid double-counting - while not losing sight of the risks associated with mergers between complex organizations.
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