ECB concerned about reliance on back-to-back booking model; Review to help benchmark lenders on asset, risk location
The European Central Bank
is stepping up scrutiny of global investment banks’ risk management
within the region to ensure they’re not relying on London units even
after Brexit, according to people familiar with the matter.
The
ECB and national regulators are taking a granular look at where banks
have key staff and book trades in order to ensure that risks related to
European Union clients are accounted for in the bloc rather than
slipping from their oversight, said the people, who asked to remain
anonymous as the matter is private....
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