ECB may accept Brexit banks using UK models – Lautenschläger
Supervisor says “hard Brexit” could see banks accepted on basis of PRA-approved models
Sabine Lautenschläger has said European Union banks aiming to set up new operations outside the UK after Brexit could be initially judged on the internal models used by British regulators.
The vice-chair of the European Central Bank’s (ECB) Single Supervisory Mechanism and a member of the central bank’s executive board, said it was unclear what the outcome would be of talks around the UK’s EU exit. The “worst case” would be a “hard Brexit” with no trade agreement covering financial services
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