FINANCIAL SERVICES : COMMISSION KEEPS EYE ON NATIONAL SUPERVISORY AUTHORITIES.

• Position: European Banking Authority - Brief article

The European Commission and the European Banking Authority (EBA) 'are closely monitoring certain measures taken by national supervisory authorities,' including the German financial supervisory authority (BaFin), said Stefaan de Rynck, spokesman for Internal Market Commissioner Michel Barnier, on 3 January. He added: 'We are indeed concerned about what is happening'.

This statement came in the wake of revelations made the same day by the German economic daily Handelsblatt to the effect that the Commission and the EBA were examining whether the BaFin may have limited capital transfers between banks and their subsidiaries abroad, ie outside Germany, in breach of single market rules.

'We are looking into actions taken by different supervisors,' including measures taken in Germany, continued de Rynck, who...