March 9, 2016 / 10:09 AM / in 2 years

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

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.

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. REUTERS/Yves Herman

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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