Economy

ECB nominates French official as bank supervisor

FRANKFURT, Germany (AP) — The European Central Bank says it is nominating French official Daniele Nouy as the chair of its new banking supervisory agency.

Nouy, an official at the Bank of France national central bank, would chair the supervisory board of the new European Union-wide overseer that is being set up and will start work next year. The new agency is intended to strengthen banking oversight by moving it to the EU level. National supervisors have been regarded as too lenient on their home banks.

Nouy would be in charge of supervising around 130 of the biggest European banks. Her nomination also comes after criticism about the lack of women in top ECB posts. The ECB said Wednesday she is to appear before the European parliament's economic committee on Nov. 27.

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