ECB's Nouy Says London Will Always Be Important Partner

The transcript discusses the implications of the UK leaving the European Union, emphasizing the importance of maintaining strong partnerships with the UK. It highlights the need to harmonize banking rules across Europe to prevent fragmentation and ensure neutrality. The discussion also covers the challenges of banking supervision and broker dealer status in the UK, suggesting the establishment of intermediate holding companies to address these issues. The timing of renegotiating the CR Divorcia framework is seen as an opportunity to streamline the regulatory framework within the two-year negotiation period.

What role do intermediate holding companies play in harmonizing the European banking system?

What is the current status of the CR Divorcia and its impact on negotiations?