European Banking Authority pitch faces rivals from other EU countries

The Government has confirmed it will make a pitch for a second EU regulator to relocate its offices and staff from the UK following the Brexit decision by seeking to lure the European Banking Authority (EBA) to Ireland

The future of the EBA, which has a role in supervising banks across the EU, has been up for grabs ever since the June 23 vote because it was unlikely the EU authorities and politicians in Paris and Berlin would sanction a key regulator remaining in London.

Frankfurt is already home to the European Central Bank.