February 6, 2020 / 2:11 PM / 22 days ago

UniCredit CEO welcomes greater ECB transparency on bank rules under Enria

MILAN, Feb 6 (Reuters) - The European Central Bank’s supervisory arm has adopted a more transparent approach under the chairmanship of Andrea Enria and this is welcome news for the industry, UniCredit Chief Executive Jean Pierre Mustier said on Thursday.

UniCredit said it may boost its payout to shareholders more quickly than previously thought after Enria clarified that a rule which is part of the EU’s new banking capital directive, known as CRD5, would kick in already in 2021.

“The ECB under the leadership of Mr Enria has been much, much more transparent and clear about the impact of regulation for banks,” Mustier, who is also president of the European Banking Federation, told a press conference.

“Whatever the impact, investors want to have clarity and Mr Enria has been extremely good at giving clarity to investors on what the Single Supervisory Mechanism wants to do and what are the impacts of some regulatory changes.” (Reporting by Valentina Za)

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