Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-07-05-Speech-2-410-750"

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"en.20110705.34.2-410-750"2
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"The current structure of the European supervisory system incorporates three authorities: the European Banking Authority, the European Insurance and Occupational Pensions Authority, and the European Securities and Markets Authority. It is a model that is aimed at avoiding systemic risk, distinguishing between the supervision of banking, insurance and securities. This model is also followed in Portugal, where, respectively, we have the Bank of Portugal, the Portuguese Insurance and Pension Funds Supervisory Authority and the Portuguese Securities Market Commission, associated with the National Council of Financial Supervisors. In this general context of reconfiguration, it is important to regulate over-the-counter derivatives. The main concern of Community action is now to increase the transparency and supervision of such actions and to avoid creating risks of financial instability. Once again, we are looking at a measure that is aimed at improving the mechanisms for preventing crisis situations."@en1

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