BoE's Woods: Brexit won’t become excuse to weaken capital rules for banks in UK

Sam Woods, the Deputy Governor for Prudential Regulation and CEO of the PRA, was recently out on the wires, with key quotes, via Reuters, found below:

• Brexit won’t become an excuse to weaken capital rules for banks in UK.
• Unwise for major financial centre like UK to have no say over financial regulation after Brexit.
• We expect 130 licence applications from European financial firms due to Brexit.
• We expect to decide by Christmas if EU bank branches in UK must become subsidiaries.