Brexit -based banks are facing pressure from ECB (ECB) to do more than the bare minimum to prepare for UK . Some establishments have already moved personnel into EU -based offices, but reports have suggested they are "thinly staffed", while other banks have been holding off on costly preparations since the UK 's exit date from the EU was delayed. However, the ECB is insisting on a previous agreement that banks need to staff their British offices within April 12 to obtain operational licences.
UK-based banks are facing pressure from the European Central Bank (ECB) to do more than the bare minimum to prepare for Brexit. Some establishments have already moved personnel into EU-based offices, but reports have suggested they are "thinly staffed", while other banks have been holding off on costly preparations since the UK's exit date from the EU was delayed. However, the ECB is insisting on a previous agreement that banks need to staff their European offices within one to two years to obtain operational licences.