You are here

Foreign banks face new EU rules for more scrutiny

19 banks, including Bank of America and UBS, need to set up holding firms for regulators to check on

BT_20170906_CPSCRUTINY_3071334.jpg
The European Central Bank and the Single Resolution Board want foreign branches, and not just subsidiaries, to come under the new "intermediate parent undertaking" or IPUs.

London

NINETEEN foreign banks in the European Union will need to set up new holding companies so that regulators can scrutinise them more closely, an EU discussion paper says, mirroring steps taken by the United States.

The European Commission...

sentifi.com

Market voices on: