Post-Brexit: banks relocating to the Euro Area
In this publication, KPMG takes a close look into the key supervisory elements for upscaling or creating a new bank in the Euro Area.

(Visited 541 times, 2 visits today)
Written by Anna-Maria Brühne• 26. March 2021• 9:51• Member, BREXIT
In this publication, KPMG takes a close look into the key supervisory elements for upscaling or creating a new bank in the Euro Area.
Banks relocating to the Euro Area will fall within the Single Supervisory Mechanism (SSM). The SSM divides supervisory roles and responsibilities between the ECB and national supervisors (National Competent Authorities, or NCAs), with the allocation determined by whether banks are deemed to be Significant Institutions (SIs) or Less Significant Institutions (LSIs).
This publication focuses on the supervisory implications of the relocation as well as on the key priorities outlined by the ECB since the Brexit vote. KPMG discusses each challenge in detail and explores the implications for banks and the steps they can take to meet supervisory expectations.
The main priority for banks over the past few months has been tackling the multi-faceted consequences of the COVID-19 pandemic. It is now crucial for banks to develop a strategy regarding their operations in the Euro Area, which may require important structural refinements.
Please find more details on this KPMG Publication here.
Image: S. Hermann, F. Richter/Pixabay
21. March 2023• Member, TOP-NEWS
In this article, our member KPMG reports on the challenge for European banks to find a balance between a sound digital transformation and managing the expectations of regulators.
6. May 2022• Member
KPMG Insights: The ECB is serious in their efforts to promote diversity within banks’ management bodies – but what does this mean for banks?
14. January 2022• Member
Since September 2020, KPMG publishes a series on “SSM beyond COVID-19” focusing on current changes in the supervisory landscape and how banks can benefit from them. This campaign includes four publications on operational resilience, credit risk, ICLAAP and climate-related risks and sustainable finance.
18. May 2021• COVID-19, International, Member
Key observations from the first quarter of 2021 and what banks can expect going forward.