Banks’ links to fintech echo run-up to financial crisis, EBA head says
EBA will work for consistent regulation of fintech by European countries, Enria says
The head of the European Banking Authority, Andrea Enria, has warned that many banks’ “complex links” with fintech remind him of the growth of securitisation and special purpose vehicles before the global financial crisis.
Enria also said the agency will be closely examining Europe’s regulatory “sandboxes” in 2018 and ensuring that different European countries regulated fintech in a consistent way.
Risk can arise when banks become “intimately connected” to activities that seem to be “outside
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