FRANKFURT, March 27 Banks moving from Britain to
Europe due to Brexit may be given time, possibly years, to fully
comply with the European Central Bank's rules, ECB executive
board member Sabine Lautenschlaeger said on Monday.
"In the case of Brexit, we have many banking groups coming
in, probably." Lautenschlaeger, also a top ECB supervisor, told
a press conference.
"To enable banks to comprehensively comply with our
requirements, we will grant bank-specific phase-in periods," she
said, adding that such periods can last months, possibly years,
depending on individual circumstances.
(Reporting by Balazs Koranyi; Editing by Francesco Canepa)