STOCKHOLM, April 28 (Reuters) - The European Union is
able to move quickly to preserve confidence in banks if needed,
but should make the system even more resilient, European
Economic Commissioner Paolo Gentiloni said on Friday.
He spoke at a news conference after a meeting of euro zone
finance ministers who discussed the lessons to be draw from the
recent bank turbulence in the U.S. and Switzerland.
"The recent turbulence in the banking system has underlined
the importance of strong risk management and effective
regulation and supervision," Gentiloni said.
"Events in the US support the EU's choice to apply the Basel
prudential standards to all our banks, not just the largest
ones," he said. "We are able to act credibly and swiftly to
preserve confidence whenever needed."
The Commission presented last week a proposal to include
more, also smaller banks, in the EU's bank resolution framework
that shields taxpayers from paying the costs of resolving
failing banks. "We must continue to work to make our financial
system even more resilient."
(Reporting by Jan Strupczewski)
Messaging: jan.strupczewski.reuters.com@reuters.net))
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