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ECB Keeps Up Pressure on Banks to Deliver on Brexit Preparation

  • Some lenders need to move more staff, assets to continent
  • Regulator wants units in Europe to stand on their own
Global banks are spending millions of euros to build out units in cities including Frankfurt.

Global banks are spending millions of euros to build out units in cities including Frankfurt.

Photographer: Alex Kraus/Bloomberg

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The European Central Bank says some lenders still haven’t done enough to beef up their European Union operations before the Brexit transition phase expires at the end of the year.