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One of the Bank of England's top officials says passporting negotiations will be 'painstaking'

Sir Jon Cunliffe, one of the Bank of England's most senior officials, has warned that Britain keeping its financial services passport will be a "painstaking process." Speaking in front of the House of Lords' EU Affairs Sub-Committee on Wednesday morning, Cunliffe, who is the bank's Deputy Governor for Financial Stability, and one of the nine members of the Monetary Policy Committee, Britain could end up creating its own version of the EU passport to allow financial services firms to operate in the European Union.
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