Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
FRANKFURT, Germany (AP) - The European Central Bank says it is nominating French official Daniele Nouy as the chair of its new banking supervisory agency.
Nouy, an official at the Bank of France national central bank, would chair the supervisory board of the new European Union-wide overseer that is being set up and will start work next year. The new agency is intended to strengthen banking oversight by moving it to the EU level. National supervisors have been regarded as too lenient on their home banks.
Nouy would be in charge of supervising around 130 of the biggest European banks. Her nomination also comes after criticism about the lack of women in top ECB posts.
The ECB said Wednesday she is to appear before the European parliament's economic committee on Nov. 27.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
