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

Pedestrians shelter under umbrellas in front of the Royal Exchange and the Bank of England, in London
Pedestrians shelter under umbrellas in front of the Royal Exchange and the Bank of England, in London, Britain August 16, 2018. REUTERS/ Hannah McKay

January 23, 2019

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.

(Reporting by Huw Jones; Editing by Peter Graff)

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