Business Matters

The Impact of Brexit in the UK Banking Sector

by Dimitris Anastasiadis

Prime Minister Theresa May faces an uphill battle in pushing her Brexit deal with the European Union through the British parliament. With that in mind, the financial industry and regulators continue to prepare for an exit from the EU without a deal or transition period. The U.K. and EU are laying out contingency plans to protect financial stability and calm markets in the event of a no-deal Brexit that leaves no time to adjust.

Why is this such an important issue for banking?