EU and UK firms unprepared for Brexit, warns EBA
Banks must speed up examination of Brexit risks and cannot rely on public sector, authority says
The European Banking Authority says supervisory authorities must warn financial firms to speed up their preparations for Brexit, and companies cannot rely on the UK and European Union governments to find solutions.
In an opinion issued on June 25, the EBA says it has been working with European supervisors to monitor “the level of contingency planning and other preparations undertaken by financial institutions”.
These preparations, the authority says, “should advance more rapidly in a number
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