November 20, 2013 / 6:54 PM / 5 years ago

ECB nominates France's Nouy to chair banks supervisor

A graffiti is seen at the fence surrounding the construction site of the new headquarters of the European Central Bank (ECB) in Frankfurt, October 31, 2013. REUTERS/Kai Pfaffenbach

FRANKFURT (Reuters) - The European Central Bank said its Governing Council nominated France’s Daniele Nouy on Wednesday to chair the new banking supervisor that is due to start operating under the ECB’s roof from November next year.

Nouy, already a bank supervisor in France, was widely expected to secure the nomination for the chair of the supervisory board of the new Single Supervisory Mechanism (SSM).

“Ms Nouy will appear before the European Parliament ECON Committee at a hearing scheduled for Wednesday, 27 November 2013,” the ECB said in a statement.

The ECB is set to take over supervision of around 130 of the euro zone’s largest lenders from November next year.

The parliament will likely welcome the nomination of Nouy. Last year, the lawmakers held up Yves Mersch’s appointment to the ECB’s Executive Board because there were no women candidates for the job.

The parliament must vote on Nouy’s nomination before it is approved by the EU Council.

She is likely to be up and running in her job at the ECB before the end of the year, ready to oversee rigorous tests the central bank is preparing to put top euro zone banks through next year before it begins its new supervisory role.

Writing by Paul Carrel; Editing by Mark Heinrich and David Evans

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