European Commission (EC) will offer in September, the European Central Bank (ECB) to take over supervision of key financial institutions in the euro area, Reuters reported, citing a publication in the German newspaper Handelsblatt.
Envisaged under the supervision of the ECB to move the German savings banks and cooperative banks, for which Germany hoped that would not be so strictly controlled.
The German edition, which relies on anonymous sources familiar with, the EC will propose national regulators continue to monitor the operation of banks in their respective countries and the ECB to intervene only in extreme cases, when he sees "serious risks".
In countries outside the euro area banking supervision will continue to be made by national regulators.
The agency reminds that the EU leaders agreed at the end of June to create a single banking supervision in the euro area as a condition for direct recapitalization of banks with funds from the rescue fund community currency.
German newspaper, however, indicate that the ECB may need to begin to control all banks in the euro area, not just the biggest.
"It is difficult to determine which bank is a major bank, so you must ensure that a future EU banking supervisory system will be able to cover all financial institutions," said Steffan de Rink, a spokesman for the Financial Services Commissioner Michel Barnier which has prepared the proposal.
Commission is also examining opportunities outside the euro area countries also engage in the banking union, and to supervise insurers, who often sell their products through banks.