UPDATE 1-ECB’s Enria wants euro zone banks out of Russia faster
(Updates with context in paragraph 2, background in paragraphs 4 to 6, JPMorgan report in paragraph 6)
June 27 (Reuters) – The European Central Bank wants lenders to speed up their exit from Russia given the increased reputational, legal and financial risk of doing business there, supervisory chief Andrea Enria said on Tuesday.
Although Europe’s top supervisor has for months said he hoped European financial bodies would cut ties with their Russian assets, the matter has taken on new significance after Saturday’s 24-hour mutiny by the Wagner militia underscored the country’s political fragility.
In a letter to members of the