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French cenbank head urges financial firms to speed up Brexit relocation to EU

PARIS, Oct 7 (Reuters) - UK-based financial firms need to quickly wrap up their relocation to the European Union to be able to keep operating in the bloc, France’s central bank head said on Wednesday.

“Even if there is a trade deal, which I do still wish and hope, Britain will have left the single market and hence things will change anyway significantly for financial services,” Bank of France Governor Francois Villeroy de Galhau said.

“It means that firms operating under the European passport must quickly finalise their relocation to the EU if they want to operate here as of next year,” Villeroy said at a financial conference in Paris. (Reporting by Leigh Thomas; Editing by Hugh Lawson)