The Bank of England welcomes the EU Council's decision on the need for a transitional period after the United Kingdom withdraws from the bloc, the Bank of England spokesman said in remarks to the Financial Times on Friday.
He said they would provide an update on the bank's regulatory approach to prepare for the EU's withdrawal next week.
European leaders agreed today to set a transitional period for the UK to leave the bloc until the end of 2020 to facilitate the exit process.
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