EU banks are in the clear over Brexit as they will be able to carry on using London for £60 trillion of crucial trading even if there is a No Deal | WHAT REALLY HAPPENED


EU banks are in the clear over Brexit as they will be able to carry on using London for £60 trillion of crucial trading even if there is a No Deal

Major banks on the Continent will be able to carry on using London for £60 trillion of crucial trading activity even if there is a No Deal Brexit.

Large lenders inside the European Union have been given permission by Brussels to continue accessing so-called clearing houses in the City for a year after we leave.

These clearing houses allow banks to trade complicated derivatives which underpin vital lending to households and businesses.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA