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ECB Probes Whether Goldman, Peers Still Too Tied to London

  • ECB concerned about reliance on back-to-back booking model
  • Review to help benchmark lenders on asset, risk location
The Goldman Sachs offices in London.

The Goldman Sachs offices in London.

Photographer: Jason Alden/Bloomberg
Updated on

The European Central Bank is stepping up scrutiny of global investment banks’ risk management within the region to ensure they’re not relying on London units even after Brexit, according to people familiar with the matter.

The ECB and national regulators are taking a granular look at where banks have key staff and book trades in order to ensure that risks related to European Union clients are accounted for in the bloc rather than slipping from their oversight, said the people, who asked to remain anonymous as the matter is private.