Transparency lacking at EU bank supervisors

Author: Lizzie Meager | Published: 31 May 2016

A report has highlighted the lack of transparency of banking supervisors in Europe, particularly when compared to their US counterparts. In the period since 2013 supervisors including the European Central Bank (ECB) and European Banking Authority (EBA) have shown little to no improvement in publishing data, the report by Peterson Institute and think tank Bruegel claims.

The report criticises the ECB in particular for lagging on transparency

Although Banking Union is still in its infancy, the report notes that its advent has had very little impact on supervisory transparency. Nicolas Veron, senior fellow at Bruegel and report co-author notes that while the EBA has improved slightly, its efforts are overly institutionalised and not wide enough.

“We know now that reporting by banks themselves is not enough,” added Veron. “Supervisory reporting plays a big role in the US, and there is demand for the same data in Europe. It’s disappointing that...