BoE to say EU banks to operate in UK as normal after Brexit

BBC report on the Bank of England on Brexit and the rules for European banks

The Bank of England is to unveil plans allowing European banks offering wholesale finance - money and services provided to businesses and each other - would operate under existing rules.

• It would apply even in a "no deal" scenario

Means EU banks operating through branches can continue without creating subsidiaries - an expensive process.

Bank of England announcement is due on Wednesday