Sabine Lautenschläger, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB speaking to Spain's Expansion
"The good news is: there have been no funding, liquidity or operational problems in SSM banks since the referendum. Operationally, financial markets have been functioning well. There is of course the risk that a prolonged period of uncertainty about the future relationship of the UK with the EU creates a wait-and-see mood, including increased risk aversion of investors and markets.
With all due respect to the political process, it would be good to settle the situation in due course; in fact this is very important"
On being asked about the Italian bank problems she says
- there may be too many banks
"The objective of the supervisor is to ensure the functioning of the banking system. It is not our responsibility to protect individual banks from market forces. In fact, there may be too many banks in the euro area and it is not our job or inclination to block orderly processes of consolidation."
Some more interesting comments on the banking system here
ECB's Lautenschläger - Brexit related risks
