FRANKFURT: The European Central Bank is getting an increasing number of queries from banks considering relocating some operations from Britain to the euro zone, ECB bank supervisor Sabine Lautenschlaeger said on Tuesday.
"We have a working group, a task force which looks into all the different scenarios, thinking about what it means with regard to passporting or non-passporting, authorization, model approval and by the way what kind or preparation can be made with our colleagues at the (Prudential Regulation Authority) in England," Lautenschlaeger, an ECB board member said.
"For sure we are preparing. We have already many banks asking for interviews and meetings so that they can identify where are our pressure points and where our methods differ from PRA methods," Lautenschlaeger told a conference in Frankfurt.
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