BoE confirms it has been advising banks to prepare for possible no-deal Brexit

Market news

3 June 2020

BoE confirms it has been advising banks to prepare for possible no-deal Brexit

Says that possibility that negotiations between UK and EU over future trading relationship might not conclude in deal is one of a number of outcomes that UK banks need to prepare for over the coming month
It is fundamental to BoE's remit that it prepares UK financial system for all risks that it might face
In performing that role, BoE's governor meets the leadership of UK banks on very regular basis

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