What Brexit Means for U.K. Banks

The video discusses the impact of Brexit on the finance industry, focusing on the potential relocation of banks from London to other European cities due to passporting issues. It highlights the uncertainty surrounding trade negotiations and the preparations banks are making for a worst-case scenario. The video also explores the impact on employees, potential cultural changes in Europe, and the concept of equivalence as an alternative to passporting. Dublin and Frankfurt are identified as potential new financial hubs.

What is the main concern for banks regarding Brexit?

• Decreasing interest rates

• Rising inflation

• Increasing taxes in the UK

• Losing access to passporting rights

How much influence do bank employees have in relocation decisions?

• They have significant influence

• They have no influence

• They have some influence

• They can veto decisions

What might change in the European banking culture if relocations occur?

• Higher bonuses similar to London

• More vacation days

• Stricter dress codes

• Increase in working hours

What is 'equivalence' in the context of financial services?

• A tax incentive program

• A new currency system

• A recognition of regulatory standards

• A merger of banks

Which cities are currently seen as potential new financial hubs?

• Vienna and Lisbon

• Dublin and Frankfurt

• Madrid and Rome

• Paris and Berlin