Skyscraper in London, England

Der Brexit des britischen Bankensektors

LONDON – Als ich Mitte der 1990er-Jahre Vorsitzender der britischen Bankenaufsicht wurde, hielten meine Freunde diesen Karriereschritt nicht für glamourös oder spannend. Bankenregulierung war eine ähnlich undurchsichtige Tätigkeit wie Kanalreinigung: Notwendig zwar, aber nicht gerade aufsehenerregend. Nachfragen wie ich meine Arbeitszeit verbringe waren eher der Höflichkeit als aufrichtigem Interesse geschuldet.

Zwanzig Jahre später steht die Struktur der Bankenregulierung in Europa auf der politischen Agenda in London ganz oben. Sie ist einer der zentralen Punkte der Neuverhandlung der Bedingungen der britischen Mitgliedschaft in der Europäischen Union durch Premierminister David Cameron.

Eine der vier Hauptforderungen David Camerons an die EU ist eine nationale Ausnahme von Elementen des einheitlichen Regelwerks, das die Europäische Zentralbank für die Bankenunion der Eurozone anstrebt, um ein länderübergreifend einheitliches Vorgehen zu gewährleisten. Die Franzosen und andere Länder befürchten, dass es diese Ausnahmeregelung dem Vereinigten Königreich erlauben würde, die Regulierung des Finanzplatzes London zu lockern, um einen Wettbewerbsvorteil zu erzielen. Dabei lassen neue Erkenntnisse darauf schließen, dass Eigenkapitalanforderungen für Banken und andere Kontrollen ihrer Tätigkeit heute in London strenger sind als anderswo in Europa. So gibt es etwa kein europäisches Pendant zur britischen Vorschrift, das Einlagen- und Kreditgeschäft intern vom Investmentbankgeschäft abzuschirmen („Ringfencing“), und die ablehnende Haltung der französischen und deutschen Regierung lässt darauf schließen, dass es wohl auch keines geben wird.

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