BoE's Woods: EU’s message on mutual recognition for financial services has been ‘consistently negative’

Sam Woods, BoE deputy governor for banking supervision, recently crossed the newswires, providing the below-seen quotes, via Reuters.

  • EU’s message on mutual recognition for financial services has been ‘consistently negative’.
  • Some politics ‘in the mix’ of EU's view on contract continuity of derivatives post-Brexit.
  • EU view that action isn’t needed on contract continuity of derivatives post-Brexit is ‘wrong-headed.’

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