Banks' Brexit contingency plans were due to have landed on the PRA's doormat by last Friday. Back in the spring, CEO Sam Woods set this deadline to ensure the regulator (and firms) had enough time to prepare in case there was a hard Brexit.

Post-election, this now seems less likely, but it's no surprise to see Goldman's (and others) urging agreement on a Brexit transitional period. The lead times for making the necessary investment and regulatory decisions, and potentially preparing staff to relocate, are long and relatively inflexible, but it's not always clear politicians understand this. 

There's no doubt the political window for agreeing a transitional period is closing fast. Regulators and firms, in their different ways, are trying to bring this reality home.