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UK and EU to recognise each other's' bank rules after Brexit – Carney

The Governor of the Bank of England Mark Carney called on Friday for UK and the European Union to negotiate that each part will respect bank rules after Brexit to avoid a high risks for stability of financial services across continent.

Carney noted that lenders had to prepared for a "hard" Brexit and the regulator established a July 14 time limit for trans border financial houses operating in Britain to say the BoE how they would manage with a sharp EU departure.

Carney added he would insist on ensuring some clearing of euro-denominated financial operations remains in the City after Brexit.

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