Bank of England's Financial Policy Committee sees substantial risk of Brexit disruption to cross-border clearing activity

Market news

3 October 2017

Bank of England's Financial Policy Committee sees substantial risk of Brexit disruption to cross-border clearing activity

FPC sees slightly higher risk than previously thought of Brexit disruption to wholesale UK banking services
Prudential regulation authority engaging with EU banks about contingency planning for bank branches in UK
EU bank branches account for one tenth of lending to UK companies
FPC view in march 2017 was that reliance on Libor as benchmark created financial stability risk

Recent fall in Danish Crown is "micro move", too small to warrant rates adjustment - Danish bank governor in Reuters interview

September data revealed a difficult month for the UK construction sector - Markit

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