Carney comments at Treasury Select Committee

There is no such thing as an 'early agreement' in Europe.

  • Will review bank supervision based on Brexit progress
  • We now have a banking system that has 16.5% of Tier 1 capital
  • Most pre-conditions in place for UK-EU free trade in financial services after Brexit; still need dispute resolution system
  • Does not accept that because financial services free trade hasn't been done in the past, can't be done in the future

London is going to bet big on keeping the status quo on financial services but I struggle to see Brussels bending.