Plan seen as direct challenge to EU to adopt a similar policy for UK-based banksThe Bank of England plans to allow European banks to preserve their UK operations under current rules following Brexit,in a direct challenge to European Union regulators to adopt the same policy towards UK-based banks.
The Bank said it wanted to press ahead with assessing the risks posed by the 177 banks and insurance companies based in the European Economic Area that bear branches in London, following the agreement between Theresa May and EU officials to breeze to the second stage of Brexit talks. Related: Gloomy Brexit forecasts for UK are coming true, and says IMF Related: EU rule capping bankers' bonuses 'could be scrapped after Brexit' Continue reading...
Source: theguardian.com