Banks could move from UK 18 months before a 'hard Brexit' - Carney

Banks based in Britain may start to relocate activities to other countries about 1-1/2 years before a British departure from the European Union if a "hard Brexit" looks likely, Bank of England Governor Mark Carney said on Tuesday. If the government begins the divorce process in March as promised, that could mean banks start moving in late 2017. Carney told lawmakers that banks and insurers were making contingency plans in case Britain loses a lot of its access to the EU's single market but said