ECB’s Nouy urges banks to complete Brexit plans
Almost 50 banks have approached supervisor to assess their options
The European Central Bank is concerned that many banks are delaying decisions regarding their structures after the UK leaves the European Union in March 2019, ECB Supervisory Board chair Danièle Nouy said on November 9.
International financial institutions use London as the financial centre from which they serve the entire European Union, but once the UK leaves the EU they may lose some of their access, with euro clearing a particularly contentious area.
The ECB has said it expects banks to
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