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Regions / Emerging Markets

Newsletter November 2013: Vienna Initiative calls for supervisory coordination

Simon Turmaine | November 11, 2013

BRUSSELS – A full forum of the Vienna Initiative, a multilateral-led group of policy-makers and market participants focused on the banking sector in central and eastern Europe (CEE), called for close cooperation between the region and the emerging EU single supervisory mechanism (SSM). The Vienna Initiative was launched in 2009, to respond to the risk of sharp capital and liquidity outflows from CEE countries, many of which have banking sectors that are dominated by Western European cross-border groups.

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