(MENAFN) Banks in London that relocate ops to the euro zone after Brexit are likely to spare a lengthy entry test by regulators, making it easier for them to shift.
Meanwhile, the European Central Bank had many inquiries from British-based banks in order to come under its watch, upgrading it to look at fast-tracking license apps.
Moreover, such a waiver would serve to speed up banks' relocation plans and help reshape Europe's financial landscape by expediting the process of Frankfurt, Paris, Dublin and others.
Accordingly, it is expected that Brexit will isolate London, recently Europe's financial capital and want to establish bases inside the UE from where they can access its market.
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