Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Ford's European credit arm considers adding German banking licence due to Brexit

Published 07/03/2017, 14:37
Updated 07/03/2017, 14:40
© Reuters. Snowflakes are seen on the badge of a Ford car in Warsaw
F
-

GENEVA (Reuters) - Ford's (N:F) European credit arm FCE said on Tuesday it was considering applying for a German banking licence alongside its current British one, because the future of passporting is uncertain after Britain leaves the European Union.

Passporting allows for any financial firm to serve the whole EU region from a single base, cutting costs and red tape.

© Reuters. Snowflakes are seen on the badge of a Ford car in Warsaw

"As the future of passporting is uncertain post-Brexit, FCE is conducting a detailed study with a view to potentially applying for a banking licence in Germany in addition to the licence we currently hold in the U.K.," an FCE spokeswoman said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.