Even though progress has been made, banks are left with continued uncertainty about the timing and scope of the Brexit process. They still have to plan for different scenarios.
The EU Council has agreed to the political compromise reached end of march for a transition period until end of 2020. However, this compromise will only become formally binding once the exit agreement has been accepted later this year. If the negotiation process by which the transition period has been reached is taken as a precedent, then banks appear to be well advised not to rely on a timely and conclusive compromise between the parties. Weiterlesen