EU withdrawal

4 December: We published Agents’ survey on preparations for EU withdrawal and results from the Decision Maker Panel survey

28 November: We published EU withdrawal scenarios and monetary and financial stability - A response to the House of Commons Treasury Committee.

28 November: We published the Financial Stability Report – November 2018, see in particular ‘Resilience of the UK financial system to Brexit’ on pages 17-33.

7 November: Following the legislation implementing the temporary permissions regime, we issued a PRA Direction ‘Temporary permission and variation: notification before exit day’ – see the Temporary permissions regime webpage for more information.

Our work on EU withdrawal

The United Kingdom’s withdrawal from the European Union is a large and complex process that has significant implications for the way we discharge our responsibilities. Many parts of the Bank have worked closely together to assess the potential impact of EU withdrawal on our policy objectives of monetary and financial stability.

Our key communications

Our work in relation to EU withdrawal is covered in further detail in a number of Bank regular publications, including our Inflation Report, Financial Stability Report, speeches and annual reports.

In addition, we have also made a number of communications to firms on EU withdrawal. These are covered in the list below.

2018 key communications
4 December	Agents’ survey on preparations for EU withdrawal and results from the Decision Maker Panel survey The Bank’s Agents have conducted a survey of business contacts about their preparations for Brexit, to support the Bank’s analysis of the impact of EU withdrawal on the UK economy.
28 November	EU withdrawal scenarios and monetary and financial stability - A response to the House of Commons Treasury Committee Financial Stability Report - November 2018 - see in particular ‘Resilience of the UK financial system to Brexit’ on pages 17-33.
7 November	PRA Direction: ‘Temporary permission and variation: notification before exit day’ (pdf)
6 November	Follow-up letter to EU systems designated under the Settlement Finality Directive from David Bailey, Executive Director, Financial Market Infrastructure
25 October	News release 'Bank of England's approach to financial services legislation under the European Union (Withdrawal) Act - October 2018' Joint Bank/PRA Consultation Paper 25/18 'The Bank of England’s approach to amending financial services legislation under the European Union (Withdrawal) Act 2018' PRA Consultation Paper 26/18 'UK withdrawal from the EU: changes to PRA Rulebook and onshored Binding Technical Standards' Bank Consultation Paper 'UK withdrawal from the EU: Changes to FMI rules and onshored Binding Technical Standards' Bank Consultation Paper 'UK Withdrawal from the EU: The Bank of England’s approach to resolution Statements of Policy and onshored Binding Technical Standards' Update to firms on the Bank’s regulatory approach, and firm preparations, for EU withdrawal - Letter from Sam Woods (PRA CEO and Deputy Governor for Prudential Regulation) to CEOs of PRA-regulated firms Letters from Jon Cunliffe to: Non-UK CCPs Non-UK CSDs
24 July	News release 'Temporary permissions and recognition regimes' HM Government has published a draft of the statutory instrument that will, subject to parliamentary approval, deliver a temporary permissions regime for EEA firms operating in the UK
24 July	Letter to EU systems designated under the Settlement Finality Directive from David Bailey, Executive Director, Financial Market Infrastructure
27 June	See Table A.2 on page 9 of the Financial Stability Report – June 2018 for ‘FPC judgement of progress against actions to mitigate the risk of disruption to end users of financial services as at 22 June 2018’
27 June	News release 'Bank of England’s approach to financial services legislation under the European Union (Withdrawal) Act' HM Treasury sets out its approach to onshoring financial services legislation under the European Union (Withdrawal) Act
27 April	News release 'EU Commission and HM Treasury ask the European Central Bank and the Bank of England to convene a technical working group' HM Treasury and the European Commission have asked the Bank of England and the ECB to convene a technical working group on risk management
28 March	News release 'Update on the regulatory approach to preparations for EU withdrawal' The Bank of England welcomes the agreement between the UK and EU27 that there should be an implementation period until the end of 2020 as part of the UK’s Withdrawal Agreement with the EU
28 March	CCPs’ preparations for the UK’s withdrawal from the European Union: update following March 2018 European Council Letter from Sir Jon Cunliffe, Deputy Governor, Financial Stability to Central Counterparties (CCPs)
28 March	Firms’ preparations for the UK’s withdrawal from the European Union: update following March 2018 European Council Letter from Sam Woods, Deputy Governor, Prudential Regulation and CEO, Prudential Regulation Authority
28 March	PRA Supervisory Statement 1/18 'International banks: the Prudential Regulation Authority’s approach to branch authorisation and supervision'
28 March	PRA Supervisory Statement 2/18 'International insurers: the Prudential Regulation Authority’s approach to branch authorisation and supervision'
16 March	Financial Policy Committee statement from its meeting FPC judgement of progress against actions to mitigate the risk of disruption to end users of financial services as at 12 March 2018

2017 key communications
20 December	News release 'The Bank of England’s approach to the authorisation and supervision of international banks, insurers and central counterparties' The Bank of England is announcing today that it is consulting on an updated approach to authorising and supervising international banks and insurers
20 December	Firms’ preparations for the UK’s withdrawal from the European Union: planning assumptions Letter from Sam Woods, Deputy Governor, Prudential Regulation and CEO, Prudential Regulation Authority
20 December	Letter to Central Counterparties (CCPs) from Sir Jon Cunliffe, Deputy Governor, Financial Stability
7 April	Contingency planning for the UK's withdrawal from the European Union Letter to firms from Sam Woods, Deputy Governor, Prudential Regulation and CEO, Prudential Regulation Authority

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EU withdrawal

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Our latest EU withdrawal updates

Our work on EU withdrawal

Our key communications

2018 key communications

2017 key communications

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