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BREAKING NEWS

Banks have done all Brexit preparations, ECB's Enria tells Finnish TV

Banks have done all Brexit preparations, ECB's Enria tells Finnish TV
FILE PHOTO: Andrea Enria, chairperson of the European Banking Authority, speaks at Reuters Summit interview in London, Britain, September 25, 2017. REUTERS/Afolabi Sotunde -
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AFOLABI SOTUNDE(Reuters)
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FRANKFURT (Reuters) – Banks based in Britain will have moved around 1.3 trillion euros (£1.2 trillion) worth of assets to the euro zone by the time it leaves the bloc, European Central Bank supervisory chief Andrea Enria told Finnish broadcaster Yle.

“We will have 24 banks, basically, that will move – seven will be directly under European Central Bank supervision and 17 will be under national supervision where they chose to relocate to,” Enria said in an interview published on Wednesday.

“We have done the best preparation we could. The banks did what we asked them to do, and a contingency plan is in place,” Enria said.

(Reporting by Balazs Koranyi; Editing by Hugh Lawson)

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