London as a financial centre since Brexit: evidence from the 2022 BIS Triennial Survey
30 December 2022
Historically, London has enjoyed an outsized role in euro-denominated financial transactions. We examine the latest evidence on whether Brexit has affected its central role in trading of interest rate derivatives, foreign exchange, international banking and bond underwriting.
Key takeaways
- The 2022 BIS Triennial Central Bank Survey shows that London
remains dominant in FX trading, but has lost share in euro interest rate
swaps to euro area centres after five Surveys showing gains.
- London retains its pre-eminence in international banking, but its
banking ties to the euro area have loosened in part owing to the shift
of euro repo clearing from London to Paris.
full paper
BIS
© BIS - Bank for International Settlements
