BRUSSELS – The European Central Bank must police all banks in a new supervisory system and avoid a two-tier approach, France's Finance Minister Pierre Moscovici said on Tuesday.
"We have no remit for a dual system of supervision which would call into question the existence of a single system for some banks," Moscovici said in a publicly-aired exchange of views with fellow EU finance ministers in Brussels.
"The ECB must supervise all banks with a European passport," he said.
(Reporting by Robin Emmott and John O'Donnell. Editing by Sebastian Moffett.)