Banks leaving UK may use own models for 'limited' time: ECB

FRANKFURT (Reuters) - UK-based banks moving to the euro zone may get to use their own models to calculate risk for a "limited" time while the European Central Bank considers whether or not to approve them, a top ECB supervisor said on Thursday.

"We are aware that time is short and that it can take a while until an internal model is approved," Sabine Lautenschlaeger, who represents the ECB's supervisory arm on the Executive Board, said.

"Thus, there will be a limited period of time in which banks might be allowed to use internal models that have not yet been approved by the ECB – subject to strict conditions, of course, which will be assessed on a case-by-case basis."

(Reporting By Francesco Canepa)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Putin says Russia is winning on battlefield, won't negotiate with 'terrorists'
• US urges hands-off approach to AI regulation at G20 tech meeting
• OpenAI says upcoming model is so capable it requires stronger guardrails