Bank of England says EU bank registrations on track for post-Brexit London

FILE PHOTO: An adjacent building throws a shadow accross the Bank of England in the City of London, Britain, December 12, 2017. REUTERS/Clodagh Kilcoyne - Copyright CLODAGH KILCOYNE(Reuters)

By Reuters

Published on 23/01/2019 - 16:34•Updated 10/05/2024 - 20:41

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LONDON (Reuters) - The Bank of England's preparations for Britain's departure from the European Union are "broadly on track", with 80 banks and insurers from the bloc applying to keep London offices as branches, BoE Deputy Governor Sam Woods said on Wednesday.

Woods said the BoE expects about 170 EU firms in total to seek to keep offices in Britain as branches after March, with about 80 having applied for the status so far.