Posted by AdviserDirect on 07/11/2019

UK banks 'prepared for Brexit and trade war fall-out'

UK banks 'prepared for Brexit and trade war fall-out'

The Bank of England says the UK banking system is still resilient to the financial impact of a worst-case disorderly Brexit. The comment came in its regular health check on the banks, the Financial Stability Report.

The Bank said "the perceived likelihood of no-deal Brexit has increased since the start of the year".

It said that "material risks" of economic disruption from such a scenario remain.

However, there had been "some improvement in the preparedness of the UK economy for no-deal Brexit".

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