“Brexit Would Mean ‘Gargantuan Task’ for ECB on Bank Safety”, Wall Street Journal Pro Financial Regulation

But figuring out how “interconnected” a bank is to the U.K. is “such an incredible, gargantuan task,” said Mayra Rodríguez Valladares, managing principal of MRV Associates LLC, a financial-regulation consultancy. “It could be lending to companies…derivatives, interbank lending,” she said.
Banks’ ability to keep track of risk is at a point, she said, where if a regulator were to call major banks right now and ask them to measure their counterparty risk, they “would struggle to achieve that quickly and accurately, especially in a period of economic or market stress.”

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