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UK banks must hurry to apply for business licence in EU after Brexit: ECB

It says not to take too much time as obtaining a licence is time-consuming process

Reuters  |  Frankfurt 

UK banks should hurry up to apply for a licence in the European Union, ensuring that they can still do business in the bloc even after Brexit, a top European Central Bank supervisor said on Tuesday. "My message today to the banks is quite simple: the clock is ticking," Sabine Lautenschläger, the ECB board member in charge of banking supervision, told a financial conference in London. "Obtaining a licence takes some time, so don't put off applying for one for too long."

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First Published: Tue, June 13 2017. 17:11 IST