https://uk.reuters.com/article/uk-br...-idUKKBN1CL346
The Bank of England has said that a transition deal is needed by Christmas, given the time it takes to approve new licences for the continuation of cross-border banking after Brexit in March 2019.
If a political deal on transition is agreed between the EU and Britain, regulators would also need to give banks assurances that they would respect it when it comes to assessing risks, TheCityUK said.
The Bank of England has said it would decide by year-end whether London branches of EU banks must become subsidiaries if there is no transition deal in sight.
If a political deal on transition is agreed between the EU and Britain, regulators would also need to give banks assurances that they would respect it when it comes to assessing risks, TheCityUK said.
The Bank of England has said it would decide by year-end whether London branches of EU banks must become subsidiaries if there is no transition deal in sight.
Which basically means any subsequent transition deal will be worthless to the
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