Big Bro

Frankfurt: Finance Center or Bureaucracy Central?

Lutz Raettig, advocate for Frankfurt, in conversation with Handelsblatt.
  • Why it matters

    Why it matters

    Frankfurt’s reputation as a financial capital could be at stake as the ECB expands its role as a banking supervisor for Europe.

  • Facts


    • The European Central Bank’s new role as a banking supervisor will create at least 1,000 new jobs in Frankfurt.
    • China has selected Frankfurt as one of several clearinghouses for yuan trading in Europe. Others are in London, Luxembourg and Switzerland.
    • European banks are required to fill out about 200,000 pages of forms to satisfy requests for information from the ECB.
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