National central banks will continue to be in charge of banking supervision.

BBC: EMU fast facts

Since GE owns two Utah finance companies, it is now overseen by the Office of Thrift Supervision, the agency in charge of AIG and one not known for its stringent examinations.

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In practice, that will not happen until the European Central Bank (ECB) is put in charge of euro-area banking supervision, which may take a lot longer than the planned six months.

ECONOMIST: The world economy