trending Market Intelligence /marketintelligence/en/news-insights/trending/DbuGu-JsJ__LcoYl6WDnzQ2 content esgSubNav
In This List

UK, EU finance regulators sign no-deal Brexit supervisory cooperation deal

Blog

Post-Webinar Q&A: Integrating Climate Risks into Credit Risk Portfolios

Blog

Insight Weekly: Hurricane Ida impact; banks seek PPP forgiveness; commodities boom disruption

Blog

Fund Financing Through a Credit Lens Digging Deeper on Credit Risk Factors for Alternative Investment Funds

Blog

Banking Essentials Newsletter: August Edition, Part - 2


UK, EU finance regulators sign no-deal Brexit supervisory cooperation deal

The U.K.'s two main financial regulators signed a memorandum of understanding with the European Union's banking watchdog for supervisory cooperation and information sharing in the event of a no-deal Brexit.

The agreement between Britain's Financial Conduct and Prudential Regulation authorities and the European Banking Authority will serve as a template for how U.K. and EU/European Economic Area national authorities can interact should the U.K. leave the bloc without a deal.

FCA CEO Andrew Bailey said the agreement would ensure that the exchange of supervisory information between the regulators are not interrupted if such an exit occurs.

With a little more than a week until the March 29 Brexit deadline, U.K. Prime Minister Theresa May has asked the EU to delay the country's departure from the bloc until June 30, after the U.K. Parliament rejected her deal twice. However, the EU said it would only grant the extension if May's lawmakers get on board with a withdrawal agreement.