ECB to Reboot Mindset in Bank Oversight Faulted as Risk Averse

Europe’s top bank watchdog plans to outline more steps to align itself with a push across the bloc to ensure lenders can remain competitive amid a rollback of financial regulations elsewhere.

“We can definitely do better,” Santa Purgaile, a member of the European Central Bank’s Supervisory Board, said before a meeting this week where the region’s top watchdog is set to finalize new measures to reduce the burden on lenders, including steps to change the approach of its staff. “This is the beginning of a huge transformation.”

Europe is seeking to ensure its financial industry can compete with overseas ...