UK exit from the EU: An orderly transition for banking

Brexit will inevitably bring with it changes to the way goods and services are traded between the UK and the continuing Member States of the EU. If these changes happen suddenly, there is a serious risk of disruption to businesses and their customers.

Transitional arrangements are key to ensuring an orderly and non-disruptive exit from the EU and will help avoid damaging cliff edge effects at the point of exit when existing rights and obligations may disappear overnight.

Transitional arrangements should address the requirements of both the UK and the EU. Their purpose is to facilitate orderly change and to provide businesses with the time to adapt to the new partnership. Transitional arrangements should be comprehensive, non-disruptive - and temporary.

Our two reports on transitional arrangements, including one that looks at this from an EU customers perspective helps to clarify why transition is needed and how transitional arrangements may be structured to avoid a disorderly exit and deliver the most positive outcome for UK and EU27 citizens.