The Brexit negotiation and transition process has commenced formally following the United Kingdom (UK) government’s notification triggering Article 50 of the Treaty on European Union.
For the financial industry, the development heaps unprecedented complexity. With a significant proportion of Europe’s capital market activity being conducted in the UK, financial institutions and banks face particular challenges during the Brexit process to continue to provide essential services to clients and maintain fully functioning markets.
This study looks at Brexit’s bearing on different types of financial institutions and delve deeper into key impact areas for banks operating in capital markets. It also covers CRISIL’s implementation approach for a seamless response to the consequences of Brexit on financial institutions.