Brexit: Just 25% UK-based banks seek EU licence
08 Sep 2017

Fewer than ten of the approximately 40 banks that conduct EU business out of London have applied so far for a licence to continue banking in the bloc after Britain leaves, regulatory sources told Reuters.

The slow pace of applications is raising concern at the European Central Bank, the EU’s top banking supervisor, that some lenders are not doing enough to prepare for Brexit, or may even avoid its watch through a gap in the rules.

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