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One of the top ECB officials raised questions about the central bank's new responsibility to oversee banks within the eurozone after an international anti-corruption watchdog lambasted the institution for overstepping its authority.
Policymaker Yves Mersch said the ECB's new directive as the bloc's banking system regulator should be placed to greater scrutiny. However, he defended its inclusion in the troika of global bailout institutions.
The ECB executive board member recognized the central bank's judgment in the decision-making process but implied the leeway should not be extended to its powers over the banking sector.
Previously, the Transparency International urged the ECB to withdraw from the group of international bailout monitors, saying it had exceeded its mandate to guarantee price stability in the region in contending with the crisis.
