Bank of England recommends that the UK financial sector makes liquidity reserves in case of tough Brexit


The deputy head of the Bank of England, Sam Woods, addressed bankers in the City of London with an appeal to create additional reserves to counter the risks associated with the British exit from the European Union. He recalled that the lack of agreement between the UK and the EU on the conditions of Brexit, which had to be reached no later than November, speaks of the reality of its “hard” version. As previously reported, the Bank of England intends to allow European financial institutions to conduct their business in the UK, even in the absence of a transition period. The regime of temporary permits, which will establish the British regulator, will be valid until March 2022.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong