Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, if the UK will remain a member of the European Banking Authority during the implementation period for the UK leaving the EU.

The UK and EU negotiating teams have agreed the terms of a time-limited Implementation Period. Once the UK becomes a third country, we will withdraw from the institutions of the EU. As a non-member state, we have been clear that the UK will no longer have the same role in the decision-making of the EU. However, it is clearly in the interests of both sides that the UK continues to work closely together on matters that concern the UK, as set out in the agreement.

The UK takes its international obligations to protect financial stability very seriously and we remain strongly supportive of continued engagement and cooperation between UK and EU regulators. To help ensure a smooth adjustment to the future relationship, the UK will continue to engage with and work alongside the European Banking Authority during the Implementation Period.