ECB to supervise Irish units of Barclays, BofAML

FILE PHOTO: The headquarters of the European Central Bank (ECB) and the skyline with its financial district are seen in the early evening in Frankfurt, Germany, September 30, 2018. REUTERS/Kai Pfaffenbach/File Photo - Copyright Kai Pfaffenbach(Reuters)

By Reuters

Published on 14/12/2018 - 10:34•Updated 11/05/2024 - 05:36

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FRANKFURT (Reuters) - The European Central Bank will begin to supervise Barclays Bank Ireland and the Irish subsidiary of Bank of America Merrill Lynch (BofAML) from next year as they are expected to grow in size following Brexit, the ECB said on Friday.

It added it would no longer supervise Permanent tsb Group Holdings plc <IL0A.I> as it did not meet any of the significance criteria for three consecutive calendar years.