BoE's Bailey says UK needs to maintain financial standards

LONDON, July 13 (Reuters) - Bank of England Governor Andrew
Bailey said on Tuesday that Britain needed to uphold regulatory
standards that are at least as high as at present and above
international minimums, while it tries to attract foreign
business after Brexit.

"The UK's reputation for strong standards, independent
regulation and financial stability has been and will remain a
crucial component of its attractiveness to internationally
active financial institutions," Bailey wrote in a letter to
finance minister Rishi Sunak.

Bailey said he expected future relationships with other
jurisdictions would be characterised by what he called "safe
openness", in his response to an annual letter from Sunak
setting out the BoE's regulatory duties.
(Reporting by David Milliken; editing by Sarah Young)