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European banks discreetly warned British officials they will need to move thousands of employees out of the country if Brexit talks prompt the Bank of England to demand that they strengthen London-based businesses with new capital.
Executives from major banks implied they would reevaluate their options in the UK such as moving their workers to another European country should BOE officials decide to oblige them to establish subsidiaries.
UK authorities have told these banks to hold sufficient capital to sustain their operations and ensure stability in the event of the nation's departure from the EU.
They have said financial institutions should be prepared to create their subsidiaries and follow BOE rules if they fail to reach a deal.
