Society for Worldwide Interbank Financial Telecommunications and Soft Brexit: Difference between pages

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imported>Doug Williamson
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imported>Doug Williamson
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(SWIFT).  
''European Union - United Kingdom (UK) - Brexit''.


A co-operative organisation created and owned by banks that operates a network which facilitates the exchange of payment and other financial messages between financial institutions (including broker-dealers and securities companies) throughout the world.  
'''Soft Brexit''' describes a potential future situation of relatively less disconnection of the UK from European institutions including the single market.


It is a major international financial telecommunications network that transmits international payment instructions as well as other international financial instruments or messages.  
For example, a possible future situation in which the UK was a member of the European Economic Area.


A SWIFT payment message is an instruction to transfer funds; the exchange of funds (settlement) subsequently takes place over a payment system or through correspondent banking relationships.
 
Contrasted with a relatively 'harder' Brexit.
 
 
On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement due to come into provisional application - subject to parliamentary ratification by the UK and the EU - from 1 January 2021.




== See also ==
== See also ==
* [[Bank identifier code]]
* [[Brexit]]
* [[ISO currency codes]]
* [[Brexit transition period]]
* [[Payments and payment systems]]
* [[European Commission]]
* [[European Economic Area]]
* [[European Free Trade Association]]
* [[European Union]]
* [[Free trade agreement]]
* [[Hard Brexit]]
* [[Single Market]]
* [[United Kingdom]]




===Other links===
=== Other links===
* Society for Worldwide Interbank Financial Telecommunications http://www.swift.com/index.page?lang=en
* [https://www.treasurers.org/hub/technical/brexit Brexit - ACT Resources]


[[Category:Cash_management]]
[[Category:The_business_context]]

Revision as of 20:49, 24 December 2020

European Union - United Kingdom (UK) - Brexit.

Soft Brexit describes a potential future situation of relatively less disconnection of the UK from European institutions including the single market.

For example, a possible future situation in which the UK was a member of the European Economic Area.


Contrasted with a relatively 'harder' Brexit.


On 24 December 2020 the UK and European Commission agreed the terms of a post-Brexit free trade agreement due to come into provisional application - subject to parliamentary ratification by the UK and the EU - from 1 January 2021.


See also


Other links