British & U.S. Banks on Brexit

The transcript discusses the complex relationship between US and UK banks in the context of Brexit. US banks are eager to maintain connections with Europe, while UK banks face challenges due to potential EU regulations. The discussion highlights the strategic decisions banks must make regarding their locations and compliance with EU rules. Theresa May's Brexit strategy is compared to the Norway agreement, where the UK might comply with EU rules without having a say in them, a situation UK banks want to avoid.

What does the phrase 'CAP bird seat' imply about the US banks' situation?

In what ways might US banks adapt to the new regulatory environment in Europe?