Citigroup 1月11日长篇报告。
　　Banks Contingency Plans Are Forming—Following the 23 June EU referendum，PM May has confirmed plans to trigger Article 50 by end-March 2017.The position of the government on EU Single Market access remains opaque，while the risk of a ‘cliff-edge’in March 2019 is real if transitional arrangements cannot be agreed.It will be late in the negotiations before banks know where they stand and consequently most are forming contingency plans based on a‘Hard Brexit’worst-case scenario.