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According to financial experts, EU rules will force UK banks to cancel accounts and credit cards of any expat that does not have a UK address.
JPMorgan, the biggest U.S. bank, is moving around €200 billion euros ($230 billion) from the U.K. to Germany as a result of Britain’s exit from the EU. Here’s why.
Lloyds and Barclays among banks taking action due to lack of post-Brexit trade deal.
Lloyds and Barclays say without a deal they cannot afford to keep EU-based customers.
Bank sees little chance of financial services deal with EU.
Britain’s banks took a gloomier view than almost all their European peers in their second quarter earnings, as coronavirus fears, Brexit and low interest rates caused them to bake tougher “worst-case” scenarios into their risk models.
HSBC, Barclays, Lloyds and NatWest have strong capital buffers but their exposure to U.K. consumers and Brexit is taking a heavy toll.
Coutts & Co., the private U.K. bank that counts Queen Elizabeth II among its clients, has warned customers within the European Economic Area that it can no longer offer them mortgages due to Brexit.
Brexit will never be over.
The United Kingdom has passed the point of no return. It has less than six months to reach a new trade deal with the European Union or risk heaping more pressure on companies that are already laying off tens of thousands of workers because of the coronavirus pandemic.
The European Union’s chief Brexit negotiator rejected the U.K.’s latest proposals for financial firms to do business with the 27-nation bloc after Brexit, accusing Britain of trying to keep as many of the benefits of the single market as it can.
Deadline to agree regulatory equivalence for financial services and allow business after Brexit likely to be missed.
The U.K.’s hopes of a swift trade deal with Japan will ultimately rest on a successful resolution to the main talks between London and the European Union on a new trading arrangement, some experts say.
anks should prepare for the possibility of a no-deal in post-Brexit trade talks between Britain and the European Union, the Bank of England said on Wednesday.
Governor tells banks to prepare for risk of UK failing to reach a deal by 2020 deadline
Andrew Bailey reminds banks of the need to have contingencies in case talks between UK and EU leaders do not result in a deal by 31 December.
Britain’s financial services sector should be ready for a no-deal Brexit when a transition period with Brussels expires in December, a senior European Union official said on Wednesday.
Amid uncertainty over a "no-deal" Brexit, a report shows banking and finance firms are moving more assets and staff from Britain to the EU than previously thought. Dublin and Frankfurt are among the top destinations.
The EU is the largest export market for Britain’s financial firms, but their access will be cut off if no new trading terms have been agreed by January when a post-Brexit transition period ends.
Checks and controls on all UK exports to EU whether or not trade deal struck, says Brussels negotiator.
UK dismisses EU call for its trawlers to continue operating in UK waters.