ECB grants post-Brexit reprieve on large exposures limit
Exemption for intra-group exposures to UK will be preserved pending a decision on equivalence
The European Central Bank is allowing the banking entities it supervises to exceed exposure limits with UK affiliates while negotiations over an equivalence deal continue. But the relief may not last long – if an agreement is not reached before the end of June, intra-group exposures between European Union entities and UK entities could attract punitive capital charges.
A spokesperson for the ECB’s single supervisory mechanism (SSM) confirms it is holding off on enforcing the large exposure
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