LONDON Feb 24 The Bundesbank said on Friday it
has seen no evidence of regulators across Europe trying to
undercut each other in a race to attract banks from Britain
Andreas Dombret, the Bundesbank's board member responsible
for supervision, said banks in London would be deciding in the
first half of this year whether they will shift some operations
to another part of the European Union so they can still serve
continental customers after Britain leaves the bloc in 2019.
It has raised the prospect of regulators competing with each
other to offer attractive licensing agreements to boost their
respective financial centres.
Dombret said he had personally seen no evidence of
regulators offering "discounts" or incentives to banks to
relocate operations from London to their country.
"We should simply exclude it as a possibility," Dombret told
reporters during a visit to London.
"There are market participants talking about this, I don't
have any direct evidence... What I want is the same high
(Reporting by Huw Jones and Marc Jones)