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France urges financial firms to finalise plans for Brexit risks

Thu, 17th Sep 2020 10:54

PARIS, Sept 17 (Reuters) - French financial firms need to
finalise preparations for the end of Britain's Brexit transition
arrangements and in particular find solutions for securities
clearing, France's financial stability council said on Thursday.

Britain left the European Union in January and transition
arrangements that still allow it unfettered access to the bloc
end on Dec. 31.

The High Council for Financial Stability, which is headed by
the finance minister and includes the central bank governor,
stressed in particular risks related to clearing
euro-denominated assets in London, which could only be overcome
in the medium term by moving such operations to the EU.
(Reporting by Leigh Thomas; Editing by Hugh Lawson)

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