BoE's Woods: Brexit won’t become excuse to weaken capital rules for banks in UK
|Sam Woods, the Deputy Governor for Prudential Regulation and CEO of the PRA, was recently out on the wires, with key quotes, via Reuters, found below:
- Brexit won’t become an excuse to weaken capital rules for banks in UK.
- Unwise for major financial centre like UK to have no say over financial regulation after Brexit.
- We expect 130 licence applications from European financial firms due to Brexit.
- We expect to decide by Christmas if EU bank branches in UK must become subsidiaries.
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