Bank of England to probe strength of foreign regulators

The Bank of England’s Prudential Regulatory Authority has set out how it wants international banks to operate in the UK, and what it expects from foreign regulators. The new rules, set out in a consultation published Wednesday morning, will mean international branches from some countries could lose their UK licence, if the PRA deems their home supervisors inadequate.

  • By Will Caiger-Smith
  • 26 Feb 2014

The UK has one of the largest international banking sectors in the world, with 31% of the assets of the UK banking system (£2.4trn) held in 145 international branches.

If the consultation gets approved, the PRA will have wide discretion in deciding which other regulators do not make ...

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4 Barclays 99,545.40 383 6.24%
5 HSBC 81,053.20 424 5.08%

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1 Bank of America Merrill Lynch 11,525.35 30 7.25%
2 BNP Paribas 8,422.96 46 5.30%
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5 Commerzbank Group 7,837.68 40 4.93%

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1 Morgan Stanley 4,425.28 19 11.23%
2 Goldman Sachs 4,006.06 15 10.16%
3 Citi 3,527.84 22 8.95%
4 JPMorgan 2,809.08 19 7.13%
5 UBS 2,241.39 12 5.69%