‘No way’ to avoid no-trade lists in no-deal Brexit

EU clients are likely to sever some cross-border ties with UK banks

Trading ties between London-based banks and some of their European clients will be severed – temporarily, at least – in the event of a no-deal Brexit, Risk.net has learned. Several banks are unlikely to obtain the licence approvals and contractual sign-offs necessary to continue trading with European clients by March 29, and could be placed on no-trade lists from the following Monday.

“No way will everyone be ready for April 1,” says a European corporate treasurer. “It wouldn’t be a catastrophe