Acting in its role as sole banking supervisor, the European Central Bank (ECB) will directly supervise 117 banking groups in the euro area from 1 January 2020.
In a statement released on Wednesday, 4 December that made reference to the move towards “larger and more complex” banking groups, the ECB said that the changes are linked to changes in the structures of some banking groups, the withdrawal of one licence, and the relocation of EU agencies as a result of Brexit.
The following will be directly supervised by the ECB: - the Lithuanian bank Akcinė bendrovė Šiaulių, which will now be considered to be a major bank; - the banks UBS Europe SE and J.P. Morgan AG, Morgan Stanley Europe Holding SE and Goldman Sachs Bank Europe SE, which will significantly increase their activities in the euro area; - the new Cassa Centrale Banca - Credito Cooperativo Italiano S.p.A. group, which is the product of a consolidation of Italian banking cooperatives; - the Latvian bank AS “PNB Banka”, which has been declared as failing or close to bankruptcy.
Nine banks will no longer be directly supervised by the ECB, however: - two entities in the Luminor Bank group and three in the Barclays Bank plc group; - three German development banks, because of the change in European banking prudential rules; - aBLV Bank Luxembourg, whose licence has been withdrawn.
For further information, go to: http://bit.ly/2Ln87W6 (Original version in French by Mathieu Bion)