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Mon 01 Jan 2009ECB could get extra powers in shake-up of euro zone regulation
THE EUROPEAN Central Bank (ECB) could be given significant extra powers in a shake-up of euro zone bank supervision, according to a senior official at the Frankfurt-based institution.
ECB vice-president Lucas Papademos said the bank could take responsibility for policing large banks operating across national borders in the 16-country euro zone, working in conjunction with national central banks.
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