Connect with us

Brexit

UK banks to be covered by EU law until 2020 under withdrawal deal - #ECB

SHARE:

Published

8 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

UK banks will be covered by European Union law until the end of 2020 if the withdrawal deal agreed by Britain and the EU is ratified, the European Central Bank has said, writes Francesco Canepa.

“The legal text of the draft Withdrawal Agreement agreed between the EU and UK negotiators covering the transition period would mean, when ratified, that Union law, including in relation to financial services, shall be applicable to and in the UK until 31 December 2020,” the ECB said in a statement.

The ECB added the Bank of England and the ECB would convene a technical working group on risk management around the day when Britain leaves the EU on March 30,2019, following a request from the European Commission and the UK Treasury.

Share this article:

Share this:
Related Topics:
Guest Contributor - Opinion

Opinions expressed are purely those of the author and not endorsed by EU Reporter. The article was unsolicited by EU Reporter, and the author guarantees the truthfulness of the contents of the article. No payment was made by EU Reporter to the author

EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending