March 29, 2017 / 12:27 PM / 2 years ago

European Banking Federation wants clarity, certainty for banks during Brexit talks

FILE PHOTO: A Union Jack flag flutters next to European Union flags ahead of a visit from Britain's Prime Minister David Cameron at the EU Commission headquarters in Brussels, Belgium February 16, 2016. REUTERS/Yves Herman/File photo

BRUSSELS (Reuters) - The European Banking Federation wants European Union and British negotiators to provide clarity on the terms of Britain’s exit from the EU, after London triggered the process on Wednesday, so that banks can continue to finance the economy.

The EBF, which unites 32 national banking associations in Europe that together represent some 4,500 banks, said it was ready to help explain to policymakers the impact of the negotiations on the supervisory and regulatory framework and on business models.

“The EBF is keen to see clarity and certainty for banks during this process so that the banking sector can continue financing the economy while serving customers to the fullest extent and without undue disruption,” it said in a statement.

Reporting By Jan Strupczewski

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