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ECB Flexes Regulatory Muscle Over Barclays' German Unit

Law360, London (December 5, 2017, 1:26 PM GMT) -- The European Central Bank said on Tuesday that it will directly supervise the German branch of Barclays PLC from January 2018 because of a sharp growth in the unit's total assets, making it systemically significant.

The ECB said the branch, based in Frankfurt, now falls within parameters that determine when an institution comes under the ECB's supervisory remit. The decision indicates a move away from national regulatory control for noneurozone banks with major operations in countries within the euro area.

Barclays' German branch was the only eurozone...
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