London-based banks face ECB Brexit power grab

money-grab
Limiting exploitation: we will need to keep a close eye on back‑to‑back booking, says Danièle Nouy

Market participants fear the European Central Bank’s single supervisory mechanism (SSM) is using Brexit as an opportunity to consolidate the supervision of swaps trading in the European Union, potentially fragmenting balance sheet management.

SSM chair Danièle Nouy issued a warning about “regulatory arbitrage” in a speech on September 15 – specifically the need to avoid banks seeking to exploit differing rules between European jurisdictions. She explicitly indicated it was a priority topic in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: