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ECB to supervise Barclays' German branch after jump in assets
December 5, 2017 / 9:24 AM / in 7 days

ECB to supervise Barclays' German branch after jump in assets

FRANKFURT (Reuters) - The German branch of UK bank Barclays (BARC.L) will come under European Central Bank’s supervision from next year due to an increase in bank’s size, the ECB said on Tuesday.

Barclays already has banks that are directly supervised by the ECB in France and Italy, as well units overseen by local regulators in Ireland, Spain and The Netherlands.

SEB AG [SEBAG.UL] and Raiffeisen-Holding Niederösterreich-Wien were meanwhile no longer deemed significant banks so the ECB will hand direct supervision over to local authorities, the ECB said.

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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