ECB’s Nouy: There is a good chance that banking sector will indeed shrink

Daniele Nouy, the Chair of the Supervisory Board at the European Central Bank (ECB), crossed the wires last minutes, talking on the bloc’s banking sector.

Main Points:

There are too many banks competing for customers

There is a good chance that the banking sector will indeed shrink

We support the EC’s proposal to grant capital waivers within banking groups on an EU cross-border basis