Dozens of banks have applied for licences to operate in the EU since the Brexit vote, a senior figure at the European Central Bank (ECB) has said.
Daniele Nouy, the ECB's chief banking supervisor, told a conference the bank had assessed 20 applications so far, according to the Financial Times.
Several British, US and Asian banks have announced their intentions to move parts of their operations into Europe after Brexit.
Last month Goldman Sachs boss Lloyd Blankfein caused uproar by tweeting that he is "going to spend a lot more time" in Frankfurt.
That was followed, several days later, by a rather pointed comment about the bank's new London headquarters.
However, at the end of last month Swiss rival UBS said it was "more and more unlikely" it will move jobs out of London after Brexit.
Although the lender had suggested it will move as many as 1,000 jobs out of the capital, chief executive Sergio Ermotti said "regulatory and political clarifications" meant jobs were more likely to stay in London.
“Our target is to keep as many people as we we can in London,” he said.