Bank of England will check if banks are ready for Brexit

Bank of England will check if banks are ready for Brexit

British banks require preparing for a wide range of potential outcomes. Moreover, they should also avoid sudden changes to lending because Great Britain gets ready to abandon the European Union, as Bank of England policymakers told on Monday.

Two days before Prime Minister Theresa May intended to notify the EU that the UK is ready to start two years of exit negotiations, as the major bank told. British banks are bound to provide copies of contingency plans in order to reassure regulators that they are ready for probable outcomes.

The BOE’s Financial Policy Committee is asking British financial institutions to show how they can potentially avoid their continental clients being steeply cut off after Brexit.

Lenders worry that Great Britain won’t secure unfettered continued access to the bloc's single market, and some of them are already intending to beef up their presence on the continent.

Similar

No More US Debts in Sight
No More US Debts in Sight

The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.

Gold Rises as Central Banks Buy More
Gold Rises as Central Banks Buy More

About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.

Latest news

Bank of Canada Surprises Markets
Bank of Canada Surprises Markets

The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera