Skyscraper in London, England

La Brexit del Sistema Bancario Britannico

LONDRA – Quando a metà degli anni novanta sono diventato responsabile della vigilanza bancaria del Regno Unito, i miei amici non lo hanno considerato un avanzamento professionale affascinante o entusiasmante. La regolamentazione bancaria era un compito oscuro, come la pulizia delle fogne: essenziale, forse, ma difficilmente da prima pagina. Le espressioni di curiosità riguardo al modo in cui impiegavo le mie ore di lavoro erano solitamente un segno di gentilezza amichevole piuttosto che di genuino interesse.

Venti anni dopo, la struttura di regolamentazione bancaria in Europa è salita in cima all’agenda politica di Londra. Rappresenta uno dei punti chiave della rinegoziazione del primo ministro David Cameron dei termini di adesione del Regno Unito all’Unione Europea.

Una delle quattro principali richieste di Cameron alla UE è una deroga per il paese riguardo agli elementi del regolamento uniforme, che la Banca Centrale Europea sta cercando di introdurre nell’unione bancaria della zona euro al fine di garantire un approccio coerente in tutti i paesi. I Francesi ed altri temono che tale deroga potrebbe consentire al Regno Unito, alla ricerca di un vantaggio competitivo, di allentare la regolamentazione finanziaria di Londra, anche se studi recenti dimostrano che i requisiti patrimoniali delle banche, e altri controlli sulle loro attività, sono in effetti oggi più restrittivi a Londra che nel resto d’Europa. Per esempio, non esiste nessun equivalente europeo dell’obbligo britannico di separazione dei servizi bancari al dettaglio e a carattere commerciale; e l’opposizione dei governi francese e tedesco suggerisce che è improbabile che in quei paesi ce ne sarà uno simile.

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