Brexit makes regulatory arbitrage more relevant, Nouy says

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Danièle Nouy

European banks’ ability to exploit differences in national banking regulations “has gained even more relevance with Brexit on the horizon”, Danièle Nouy said on September 15.

“The single European rulebook is not single enough”, the chair of the European Central Bank’s supervisory board said in a speech in Helsinki. “Parts of that rulebook still need to be transposed into national law”, Nouy said. The failure to do so had led to continued national differences in banking regulation, creating “a

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