20 Dec 2017

AFME welcomes Bank of England announcement on EU bank branches in UK

Commenting on the Bank of England’s announcement today, Simon Lewis, Chief Executive of AFME, said:

“We welcome the Prudential Regulatory Authority’s confirmation that EU27 banks will be able to continue to operate their wholesale business through their existing branches in the UK post-Brexit. This provides welcome clarity for firms, enabling them to proceed with their Brexit planning and avoiding additional fragmentation of capital within Europe.”