The Bank of England and the European Central Bank will team up in a working group on managing financial risks around the time Britain plans to leave the EU next year, officials said Friday. The European Commission and Britain''s finance ministry said in a statement that they had asked their respective central banks to form "a technical working group on risk management in the period around 30 March 2019 in the area of financial services".
Britain is set to leave the EU on March 29, 2019. The group will be headed up by ECB president Mario Draghi and BoE governor Mark Carney, while Commission and Treasury officials will act as observers.