December 10, 2012 / 2:38 PM / 5 years ago

Germany says only big banks should come under European oversight

BERLIN (Reuters) - Only the bloc’s biggest banks should come under European supervision, a senior German official said on Monday, days before finance ministers meet to try to resolve a deep divide over the scope of a new oversight body.

Steffen Kampeter, deputy finance minister, told reporters in Berlin that banks that did not present a systemic risk should remain under the oversight of national authorities.

“We don’t want all the banks lumped together,” he said.

Reporting by Gernot Heller; Writing by Noah Barkin

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