ECB’s Lautenschlaeger: UK banks behind schedule in post-Brexit preparations

The European Central Bank (ECB) Governing Council member and Supervisory arm chief Sabine Lautenschlaeger crossed the wires last hour, via Reuters, expressing her views in a newspaper article.

Key Points:

UK-based banks seeking to relocate to the EU before Brexit are behind schedule in their preparations for the move

"Frankly, the banks are not as far advanced as we would like them to be."

"Of the banks that have indicated an interest in relocating operations to the euro area, a number of the larger banks have made progress in their planning. But we have not seen many final decisions yet."