The European Central Bank (ECB) has published a new webpage for banks considering relocating baking activities to the euro area. The webpage states that, in the context of Brexit, the ECB and several national supervisors have been approached by banking groups with questions about the supervisory approach in the euro area and ECB banking supervision requirements for banks potentially relocating business. As a result, the ECB has decided to organise a technical workshop to provide information to banks, regardless of the euro area member state they may be considering for their operations. The workshop will be held on 4 May 2017 at the ECB’s premises in Frankfurt. Interested banks should contact the ECB by 24 April 2017 to request further details.
The webpage also includes some frequently asked questions regarding the ECB’s role in supervising euro area banks. The topics covered include:
- competences for banking supervision within the euro area;
- the ECB’s expectations regarding authorisations and banking licences;
- internal governance and risk management;
- internal models in banks; and
- issues relating to ongoing supervision.