Christian Noyer, the governor of The Bank of France, said the majority of "euro business should be done inside the euro area," a challenge to London's position, The Financial Times reports on its website Sunday.

According to the report, Mr. Noyer, who is also a member of the European Central Bank's Governing Council, said, "We're not against some business being done in London, but the bulk of the business should be under our control. That's the consequence of the choice by the U.K. to remain outside the euro area."