ECB’s Lautenschlaeger: ECB is prepared for ‘any outcome’ of Brexit negotiations

European Central Bank (ECB) executive board member Sabine Lautenschlaeger crossed the wires last minutes, via Reuters, speaking on regulation and Brexit.

Headlines:

We will probably have many banking groups coming in due to Brexit

If a bank wants to move back-to-back it will have to be more urgent

Some will take months and some may even take 1 or 2 years

ECB is prepared for ‘any outcome’ of Brexit negotiations

Basel iii must be finalized as quickly as possible

Committee is close to reaching an agreement