March 9, 2016 / 10:09 AM / a year ago

Britain's EU membership is basis for central bank cooperation: ECB

A Union Jack flag flutters next to European Union flags ahead of a visit from Britain's Prime Minister David Cameron at the EU Commission headquarters in Brussels, Belgium February 16, 2016.Yves Herman

FRANKFURT (Reuters) - Britain's membership of the European Union, which will be put to the vote in June, provides a sound basis for co-operation between its banking supervisors and those in the rest of the region, a senior official at the European Central Bank said on Wednesday.

European regulators and banking watchdogs such as the Bank of England and the ECB have been working more closely together since the financial crisis, for example by adopting a common approach on how banks should be supervised and price bubbles addressed.

"While such cooperation will be needed in any case, the UK’s membership in the EU provides a sound and tested basis for this cooperation," Ignazio Angeloni, a member of the supervisory board of the ECB, said in a speech in London.

To read the full speech, please click:

here

Reporting By Francesco Canepa

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