The European Central Bank has updated its web page on relocating to the euro area.

Under the drop-down section headed “Internal governance and risk management” there is:

• a new FAQ: “Can I continue to provide services to customers in the EU from a branch in London post Brexit?”
• an updated answer to FAQ: “Will the use of a back-to-back booking model be accepted? What arrangements do you expect to be in place when it comes to booking models generally?”
• a new FAQ: “How will booking models be assessed? What are the supervisory expectations vis-à-vis back-to-back booking?”

Under the drop-down section “Issues related to on-going supervision there is a new FAQ: “The EBA has recently published an ‘Opinion on Brexit issues’ with a view to ensuring the consistent application of Union legislation to businesses seeking to establish or enhance their EU27 presence. Will there be any changes as a consequence of that EBA Opinion?”

View Relocating to the euro area, 10 January 2018