June 13, 2017 / 8:50 AM / 5 months ago

ECB tells UK banks clock is ticking for seeking EU licence

FRANKFURT (Reuters) - UK banks should hurry up in applying for a licence in the European Union to ensure they can still do business in the bloc even after Britain leaves, a top European Central Bank supervisor said on Tuesday.

FILE PHOTO: Flags in front of the European Central Bank (ECB) before a news conference at the ECB headquarters in Frankfurt, Germany, April 27, 2017. REUTERS/Kai Pfaffenbach/File Photo

“My message today to the banks is quite simple: the clock is ticking,” Sabine Lautenschläger, the ECB board member in charge of banking supervision, told a financial conference in London.

“Obtaining a licence takes some time, so don’t put off applying for one for too long.”

Reporting By Francesco Canepa; Editing by Balazs Koranyi

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