UK financial centre says continued access to EU market crucial after Brexit

LONDON, June 24 (Reuters) - Britain's vote to leave the European Union won't result in a "mass exit" of banks and other financial institutions, the City of London (LSE: CIN.L - news) financial district said on Friday.

Banks based in London rely on a so-called EU "passport" that allows them to operate across the 28-country bloc's capital market unhindered.

Some banks have said they would shift operations to the euro zone if Britain left the EU.

"There will be no mass exit of banks and financial institutions from the Square Mile," Mark Boleat, policy chairman for the City of London Corporation said in statement.

"The general view of the City is that the government should push for the UK to retain our access to the single market," Boleat said.

Britain will now have to negotiate trading terms with the EU.

(Reporting by Huw Jones, editing by Andy Bruce)