EU withdrawal

The UK’s withdrawal from the EU is a large and complex process that has significant implications for the way we discharge our responsibilities.

Our work on EU withdrawal

The United Kingdom’s withdrawal from the European Union is a large and complex process that has significant implications for the way we discharge our responsibilities. Many parts of the Bank have worked closely together to assess the potential impact of EU withdrawal on our policy objectives of monetary and financial stability.

Our latest EU withdrawal updates

23 September 2021: We published ‘Exercise by the Bank of England and Prudential Regulation Authority of sub-delegated powers under the European Union (Withdrawal) Act 2018’, which explains how we used sub-delegated powers under the Act in the financial year ending 28 February 2021.

26 July 2021: We published PS19/21 ‘International banks: The Prudential Regulation Authority’s approach to branch authorisation and subsidiary supervision’, relevant to all existing or prospective PRA-authorised banks and designated investment firms that are headquartered outside the UK or are part of a group based outside of the UK. The expectations in SS5/21 take effect, and supersede SS1/18, on Monday 26 July 2021. 

9 July 2021: We have updated the relevant temporary transitional power (TTP) guidance documents to reflect changes to the CRR and PRA rules taking effect on Saturday 1 January 2022 as part of PS17/21 ‘Implementation of Basel standards’. Please see the TTP webpage for more information.

Our key communications

Our work in relation to EU withdrawal is covered in further detail in a number of Bank regular publications, including our Monetary Policy Report, Financial Stability Report, speeches and annual reports

In addition, we have also made a number of communications to firms on EU withdrawal. These are covered in the list below.

This page was last updated 23 September 2021

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