empty
 
 

2017.03.2221:45:00UTC+00ECB to Thwart Any Move to Lure British Banks Post-Brexit

The European Central Bank will counter any efforts to begin a race to the bottom on financial rules as European states scramble to lure companies away from Britain after its exit from the European Union.

ECB board member Sabine Lautenschläger said Wednesday that any entity that intends to transfer to the eurozone must meet their requirements, regardless of whether it comes from the United Kingdom or other European country.

Lautenschläger cautioned any financial institutions seeking to circumvent rules to keep rendering banking products and services without a passport should revise their plans. She said they prioritize having secure and stable banks.

The ECB official recognized UK-based banks are experiencing challenges to obtain a new license in the EU, saying the central bank would become accommodating in terms of approving methodologies used by banks in evaluating capital requirements and risks.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback