Per the announcements made by the European Commission, large foreign investment banks in the European Union (EU) will now face tougher regulatory regime and would be brought under the direct control of the European Central Bank (ECB).
Until now, market regulators were responsible for supervising banks, which will now be done by the central bank. In the opinion of the Commission’s vice president, Valdis Dombrovskis, "The new rules will support well-functioning capital markets, while ensuring financial stability. At the same time, larger firms posing similar risks as banks should be regulated and supervised like banks."
The regulatory body is planning to get large institutions that have assets of more than 30 billion euros under stricter regulations and easing the regulations on smaller firms. Thus, banking giants like JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , Goldman Sachs (GS - Free Report) , Deutsche Bank (DB - Free Report) , Credit Suisse and Morgan Stanley (MS - Free Report) might face tighter scrutiny.
In fact, all big banks are trying to shift operations outside of Britain so that they can continue serving their customers post Brexit in March 2019 too. However, the ECB has made it clear that they can’t set up small offices in London and keep serving their clients. According to the ECB, the banks will have to maintain full-fledged offices if they want to serve the clients post Brexit.
Of the above-mentioned major banks, JPMorgan, Citigroup, Goldman Sachs and Deutsche Bank carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Per the announcements made by the European Commission, large foreign investment banks in the European Union (EU) will now face tougher regulatory regime and would be brought under the direct control of the European Central Bank (ECB).
Until now, market regulators were responsible for supervising banks, which will now be done by the central bank. In the opinion of the Commission’s vice president, Valdis Dombrovskis, "The new rules will support well-functioning capital markets, while ensuring financial stability. At the same time, larger firms posing similar risks as banks should be regulated and supervised like banks."
The regulatory body is planning to get large institutions that have assets of more than 30 billion euros under stricter regulations and easing the regulations on smaller firms. Thus, banking giants like JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , Goldman Sachs (GS - Free Report) , Deutsche Bank (DB - Free Report) , Credit Suisse and Morgan Stanley (MS - Free Report) might face tighter scrutiny.
In fact, all big banks are trying to shift operations outside of Britain so that they can continue serving their customers post Brexit in March 2019 too. However, the ECB has made it clear that they can’t set up small offices in London and keep serving their clients. According to the ECB, the banks will have to maintain full-fledged offices if they want to serve the clients post Brexit.
Of the above-mentioned major banks, JPMorgan, Citigroup, Goldman Sachs and Deutsche Bank carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.
Click here for Zacks' private trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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