The City refuses to back down as Brussels piles on the pressure – Telegraph.co.uk
More than £900bn in bank assets about 10pc of the UK banking system have also moved or are being moved out of the UK as a result of Brexit.
Yet these reflect the day one plans. Another wave of moves is coming and the ECB has said banks cant use the coronavirus pandemic as an excuse to delay their plans.
EU supervisors will want to ensure that banks relocate what they have already agreed with the ECB, says William Wright, of think tank New Financial. Second, they want to ensure that the substance…
