Thursday

2nd Apr 2020

ECB nominates French woman for bank supervisor

  • The single supervisory regime will be up and running in 2014 (Photo: Valentina Pop)

French woman Daniele Nouy is set to become the EU's first top bank supervisor after being nominated for the job by the European Central Bank's (ECB) senior officials.

The ECB governing council announced the move on Wednesday (20 November).

Read and decide

Join EUobserver today

Support quality EU news

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or join as a group

Nouy is to be the only candidate for the job, and will work alongside a vice chairman to be selected from the ECB's six man executive board.

EU lawmakers finalised legislation to create a single bank supervisor this autumn, with the new regime to come into force in mid-2014.

The framework, which will initially bring around 130 banks under the ECB's direct supervision, is the first strand of ambitious plans to create a banking union for the eurozone.

Nouy, who is currently the secretary general of the French Prudential Control Authority, will appear at a hearing with MEPs on the economic affairs committee next Wednesday (27 November).

A career bank regulator who also served on the Basel Committee on Banking Supervision, the body which drafts global standards for bank regulation, Nouy has long been touted as the most experienced candidate for the post.

Luxembourg Prime Minister Jean Claude Juncker began the speculation in cryptic remarks at the start of 2013.

“It will be done and she will be French,” he told the European Parliament at a hearing in January, his final appearance as chairman of the Eurogroup, which brings together the eurozone's 17 finance ministers.

The nomination will also go a little way towards dispelling the notion that the ECB's top jobs are for men only.

Last October, MEPs tried to block the appointment of Luxembourg central bank governor Yves Mersch to the ECB's executive board in protest at the lack of women in its senior cadre.

But despite the euro-deputies' protest, all 23 members of the ECB's executive board and governing council are still men.

ECB takes control as EU bank supervisor

The ECB formally assumes its new role as the chief supervisor of EU banks on Tuesday, in a milestone for the creation of the bloc's banking union.

Coronavirus

Journalism hit hard by corona crisis

An already fragile business model for journalism might be dealt a lethal blow in the corona crisis. And the freedom of the press itself is coming under extreme pressure, as governments take swift and debilitating measures fighting the pandemic.

Coronavirus

Journalism hit hard by corona crisis

An already fragile business model for journalism might be dealt a lethal blow in the corona crisis. And the freedom of the press itself is coming under extreme pressure, as governments take swift and debilitating measures fighting the pandemic.

Analysis

Italy and Spain: worst - or just first?

Italy and Spain, the most-affected countries in the EU, have tightened their response to the coronavirus outbreak - as the pair together now account for more than half of the world's death toll.

Stakeholders' Highlights

  1. UNESDAMaking Europe’s Economy Circular – the time is now
  2. Nordic Council of MinistersScottish parliament seeks closer collaboration with the Nordic Council
  3. UNESDAFrom Linear to Circular – check out UNESDA's new blog
  4. Nordic Council of Ministers40 years of experience have proven its point: Sustainable financing actually works
  5. Nordic Council of MinistersNordic and Baltic ministers paving the way for 5G in the region
  6. Nordic Council of MinistersEarmarked paternity leave – an effective way to change norms

Latest News

  1. Court: Three countries broke EU law on migrant relocation
  2. Journalism hit hard by corona crisis
  3. EU fighting shortages and faulty medical supplies
  4. New EU navy operation to keep migrant details secret
  5. MEP: Constituents are our window into this tragedy
  6. Without European patriotism, EU decline is inevitable
  7. EU cancels April Fool's 'fake news'
  8. A coronavirus 'Marshall Plan' alone won't be nearly enough

Join EUobserver

Support quality EU news

Join us