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London banks set to decide within weeks on Brexit moves

FRANKFURT/LONDON: As Britain prepares to negotiate its EU departure, a number of banks are likely to decide within two months where to set up new continental bases to make sure they can keep serving clients in the bloc after Brexit.

The European Central Bank said it will host a meeting of banks on May 4 at its offices in Frankfurt. It will spell out in detail what those moving some of their operations out of London must do to apply successfully for a licence.

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