UK and EU agree template for no-deal Brexit supervision

UK and European Union supervisors have agreed a template for supervisory co-operation in the event of a no-deal Brexit, with the deadline for the UK’s departure from the EU little more than a week away.

The Prudential Regulation Authority and Financial Conduct Authority signed the agreement with their EU counterpart, the European Banking Authority.

The template will form the basis for memoranda of understanding with national supervisors in individual EU countries. The UK authorities plan to