Mario Draghi said the European Central Bank should maintain oversight of U.K.'s vital clearing business even after Britain leaves the European Union, touching on an issue that became a battleground after the June referendum.
The supervision of U.K. clearinghouses has been thrown into question since the Brexit vote, with both Germany and France seeking to chip away at London's dominance in the business. Britain's exit could lead to a loss of ECB oversight of such institutions, ECB President Draghi said in a letter to lawmaker Pervenche Beres.
"It will be important to find solutions that at least preserve, or ideally enhance, the current level of supervision and oversight," Draghi said in the letter, dated Jan. 10.
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