Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

24 November 2017

フィナンシャル・タイムズ紙:英国による合意なしの離脱に向けて対英エクスポージャーを絞り込むEU(欧州連合)27カ国の大手行


Default: Change to:


European banks have slashed their exposure to the UK since it voted to leave the European Union, removing €350bn of UK-related assets from their balance sheets in just 12 months.


Banks across the rest of the 27 other EU countries have reduced their total assets tied to the UK from €1.94tn to €1.59tn between June 2016 and June 2017, according to official EU data. Banks’ liabilities also decreased over the same period, dropping from €1.67tn to €1.34tn, the EBA said.

The trend is expected to increase ahead of the March 2019 Brexit deadline. The fresh details of how intertwined European banks are to the UK were included in a report on Friday by the European Banking Authority, the supervisor of supervisors across the EU, which earlier this week found out it was moving its headquarters from London to Paris because of Brexit.

The EBA conceded that the risk of a “cliff edge” Brexit was the main cloud hanging over all of Europe’s banking system — and not just over that of the UK. One third of banks the EBA polled for its annual risk-assessment exercise are concerned about the legal risks presented if the UK crashes out of the EU with no deal. That includes legal uncertainty around derivatives and other financial contracts, data protection and how court judgments might be enforced.

“It is important that banks and their counterparties, as well as consumers and public authorities, consider appropriate mitigating actions and contingency plans to address these concerns,” the EBA said. “These risks may, in the short term, endanger the continuity of cross-border financial flows and services between financial service providers in the EU-27 and the UK.”

Banks slashed their holdings of derivatives with exposure to the UK by 35 per cent over the year since the Brexit vote, the biggest asset class to decrease, the EBA said. [...]

Full article on Financial Times (subscription required)



© Financial Times


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment