Some have voiced the concern that warnings from European officials towards businesses, including financial institutions, currently operating out of the UK to prepare for a hard Brexit could be an attempt to lure business and jobs to the EU27. I want to make crystal clear that this is not 4/5  BIS central bankers' speeches  our intention.
From the day after the referendum I have repeatedly emphasized that we are not the marketing agency for the city of Frankfurt – or any other European financial centre, for that matter. We are supervisors interested in the stability and smooth functioning of the financial sector.