FIA Adds UK-EU News and Relations Page Amid Brexit

FIA has compiled a variety of resources that may of be interest to industry members as the United Kingdom (U.K.) has voted in favour of leaving the European Union. This page will be updated regularly; please check back for additional information.

Please contact us at UK-EURelations@fia.org if you have any questions. 

FIA engaged Allen & Overy to prepare a memorandum outlining likely next steps and near-term consequences for the cleared derivatives industry.

Brexit: What’s Next for the Cleared Derivatives Industry?

FIA Memorandum by Allen & Overy on likely next steps and near-term consequences of the British referendum to leave the EU (June 24, 2016)

Exchange Notices

ASX: Immediate changes to ASX Clear (Futures) Margin Rate Parameters following Brexit Referendum (June 24, 2016) 

ICE: Potential for intra-day changes to current interval price limit levels

Euronext: Dedicated arrangements ahead of UK Referendum

CME:Temporary Modification to CME FX and CME and CBOT Interest Rate Special Price Fluctuation Limits

CME: Temporary Amendments to CME and CBOT Special Price Fluctuation Limits for CME FX and CME and CBOT IR Futures Products re: Brexit Vote in the UK 

Official Statements

ECB Statement:  Closely monitoring financial markets (June 24, 2016) 

FCA: Statement on European Union referendum result (June 24, 2016)

Bank of England: Statement from the Govenor of the Bank of England following the EU referendum result (June 24, 2016)

Federal Reserve Statement: Carefully monitoring developments in global financial markets (June 24, 2016)

Statement of G-7 Finance Ministers and Central Bank Governors (June 24, 2016)

HM Treasury analysis: The immediate economic impact of leaving the EU (May 2016)

HM Treasury analysis: The long-term economic impact of EU membership and the alternatives (April 2016)

Bank of England: EU membership and the Bank of England (October 2015)

Resources

FIA: Memorandum on near-term consequences for the cleared derivatives industry (June 24, 2016)

Hogan Lovells: What could Brexit mean for U.S. financial institutions? (May 2016)

Clifford Chance:  The Day after Brexit – What will happen if Britain votes to leave the EU? (April 2016)

LSECentre for Economic Performance: The UK Treasury analysis of ‘The long-term economic impact of EU membership and the alternatives’: CEP Commentary (April 2016)

Ashurst: Brexit: Potential impact on the UK’s banking industry (March 2016)

Morgan Lewis & Bockius LLP: Financial Services Sector Implications of Brexit (March 2016) 

Sia Partners: Brexit and the impact on the UK’s regulatory framework (February 2016)

Ashurst: Brexit (February 2016)

Global Counsel: BREXIT: the impact on the UK and the EU (June 2015)