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MNI BRIEF: BOE Bailey: Expects EU Fin Services MoU By Spring

LONDON (MNI)

The EU-UK trade deal was broadly in line with market expectations despite the lack of any financial services agreement and so far an estimated 5,000 to 7,000 financial services jobs had moved to the EU, Bank of England Governor Andrew Bailey, told a parliamentary committee Wednesday.

Bailey said he expected a Memorandum of Understanding on financial services by the Spring but he was downbeat about the chances of EU granting regulatory equivalence to the UK, as it was asking for greater clarity on the UK's future intentions on divergence and that was "problematic."

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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