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ECB narrows list of supervised banks to 119, adds Barclays' Frankfurt branch

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ECB narrows list of supervised banks to 119, adds Barclays' Frankfurt branch

The ECB updated its list of significant credit institutions and banking groups, adding one bank and removing seven of the 125 banks deemed significant at the beginning of 2017.

The eurozone banks over which the ECB has direct supervisory responsibility include those with more than €30 billion in total assets, as well as those deemed significant for reasons including cross-border activity and their economic importance either to their home country or the EU as a whole.

Because of an increase in its size, Barclays Bank Plc's Frankfurt branch will be directly supervised by the ECB beginning Jan. 1, 2018. The Frankfurt branch joins the U.K.-based lender's operations in France and Italy in being directly supervised by the ECB.

Meanwhile, the ECB said Raiffeisen-Holding Niederösterreich-Wien reg. GmbH and SEB AG are no longer classed as significant after failing to meet any of the regulator's significance criteria for three consecutive years. As a result, supervisory responsibilities for both banks will be transferred to local authorities in Austria and Germany, respectively.

Also dropping off the ECB's list were Banco BPI SA, which was acquired by Spain's CaixaBank SA; Banco Popular Español SA, acquired by Banco Santander SA; Veneto Banca SpA and Banca Popolare di Vicenza SpA, which had their licenses withdrawn after their good assets were acquired by Intesa Sanpaolo SpA; and Agence Française de Développement, which voluntarily returned its banking license.