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ECB says banks may try to avoid its supervision after Brexit


HELSINKI/TALLIN (Reuters) - European banks might try to exploit loopholes and differences in national rules to get looser regulation or evade European Central Bank rules altogether, particularly after Britain quits the European Union, two ECB regulators warned on Friday. Sabine Lautenschlaeger and Daniele Nouy renewed their calls for closing gaps in European rules that put investment firms and bank branches outside the ECB's banking supervision."In the wake of Brexit, many banks will decide to relocate from the United Kingdom to the euro area," Lautenschlaeger, who represents the ECB's ...

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First Published: Fri, September 15 2017. 14:46 IST