Institute responds to 'no deal' Brexit notifications for banking
The Chartered Banker Institute has today responded to the government's notification on banking in the event of a 'no deal' Brexit scenario,
Simon Thompson, Chief Executive of the Chartered Banker Institute commented;
" At both retail and wholesale level, a no-deal scenario is bad news for citizens and businesses in the UK and EU. We mustn't forget that at least 1 million Britons living in the EU rely on the efficient functioning of the banking system for services including payments and pensions. Many businesses across Europe rely on funding and trade finance from UK institutions. I'm sure that, with goodwill and patience all round, pragmatic solutions in the event of no-deal could be found and implemented. But this would be much less optimal than an agreement that maintains the majority of current arrangements, and ensures the banking and financial system does what it is supposed to - supporting individuals and helping grow business in the UK and EU."
ENDS
Notes for Editors
About the Chartered Banker Institute
The Chartered Banker Institute is the oldest professional banking institute in the world. The Institute was founded in 1875, operates in all UK nations, and has a significant and growing international presence
The Institute has driven an agenda of ethical professionalism throughout its existence; promoting professional standards for bankers, providing professional qualifications for retail, commercial and private bankers in the UK and overseas, and offering professional membership to qualified individuals. The Institute currently has over 30,000 members and in 2017, over 175,000 individual bankers met the Chartered Banker: Professional Standards Board’s Foundation Standard.
For further information contact:
Matthew Ball, Head of Public Affairs, Chartered Banker Institute
Tel: +44 (0)7720 684226
E-mail: matthew.ball@charteredbanker.com