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ECB tells UK banks clock is ticking for seeking EU licence

FILE PHOTO: Canary Wharf and the City at sunset in London, Britain, December 14, 2016. REUTERS/Eddie Keogh/File Photo

FRANKFURT (Reuters) - UK banks should hurry up in applying for a licence in the European Union to ensure they can still do business in the bloc even after Britain leaves, a top European Central Bank supervisor said on Tuesday.

“My message today to the banks is quite simple: the clock is ticking,” Sabine Lautenschläger, the ECB board member in charge of banking supervision, told a financial conference in London.

“Obtaining a licence takes some time, so don’t put off applying for one for too long.”

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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