ECB: A strengthening of the single market supervision at EU level is needed

Key highlights from the recent ECB report titled "ECB contribution to the European Commission’s consultation on Capital Markets Union mid-term review 2017":

• The ECB has been a strong supporter of the capital markets union (CMU) project since its inception
• The European Commission’s Action Plan on CMU 4 is a step in the right direction
• Further action is needed to foster robust cross-border capital flows and sound financial integration
• A strengthening of the single market supervision at EU level is needed
• Substantial progress has been recently achieved by the EU Prospectus Regulation