German pitch to lure UK banks

German regulators will meet more than 20 foreign banks on Monday to spell out requirements for moving some operations to Frankfurt, sources said, as the city accelerates plans to win over business from London after Brexit.

The meeting, the first such gathering of its kind in Germany, is being hosted by financial supervisor Bafin to cope with increasingly detailed inquiries from banks as Britain prepares to trigger EU divorce talks.

“Bafin wants to give the participants an overview of the main issues for those who want to move businesses to Germany after Brexit,” said one of the sources.