Good morning from the Financial Times. Today is Thursday, October 21st.

Then this is your FT News Briefing.

The European Central Bank wants lenders in the EU to beef up their staffing,

and it's not as bad as a blacklist. Turkey is set to be put on a gray list.

We'll explain what exactly that is. Spoiler alert, it's not good. Plus Saudi Arabia wants more of

its own citizens in the workforce, and that means women too. I'm Mark Filipino,

and here's the news evening to start your day.

The ECB has been pressuring banks to move more staff and capital to their post-Brexit operations

in Europe. This affects banks from all around the world who have traditionally used London as their

hub for providing services to clients in the EU. The ECB had suspended this requirement during

the pandemic, but that reprieve has now ended. Bankers and lawyers told the FT that the ECB's

approach was tougher than they'd expected on these longstanding issues, one being where risk

management staff handling EU trade should be located, and the other issue being how much capital

EU entities need to have. The new demands could also create conflict with the Bank of England,

which earlier this year asked UK lenders to seek approval before relocating more jobs or operations

to the EU. Today, a global finance watchdog is set to sanction Turkey for failing to adequately

combat money laundering and terrorist financing. The move by the financial action task force,

or FATF, could make it even harder for Turkey to attract crucial foreign capital. Here's our

correspondent in Ankara, Laura Patel. So Turkey was put on notice by the FATF back in 2019.

It did a review of Turkey's counter money laundering and counter terrorism financing measures,

and found that although it could have understood the risks that it faced with money laundering

and terrorist financing, there were quote serious shortcomings in its framework to combat these

...