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ECB to Increase Fines on Banks with Vulnerabilities

ECB to Increase Fines on Banks with Vulnerabilities

by Starling Insights

Starling Insights Editorial Board

Dec 13, 2023


In a speech delivered last week, Frank Elderson, Vice-Chair of the Supervisory Board at the European Central Bank (ECB), said that the regulator was taking a more aggressive stance toward Eurozone banks that fail to address risk governance vulnerabilities promptly.

The turmoil in banking markets this year, which led to the collapse of Silicon Valley Bank and the forced rescue of Credit Suisse in March, "was a clear reminder of what can happen if issues are detected but not acted upon," Elderson said.

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