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Bank of England tells EU to move now to avoid hard Brexit risks for financial services
The Bank of England called on the European Union to do more to protect cross-border financial services from the risks of a so-called cliff-edge Brexit, saying the need for action was now pressing. Less than six months before Britain is due to leave the EU, creating the potential for new barriers for companies doing business across the English Channel, the BoE said it saw risks for insurance, derivatives and the transfer of data. London and Brussels have so far not agreed on the terms of Britain’s departure from the bloc and their new relationship. “There has been considerable progress in the UK to address these ... (full story)
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