• Brexit seriously increases risk outlook

• Reduced the UK countercyclical capital buffer rate from 0.5% to 0% of banks' UK exposures with immediate effect.

• Welcomed the Bank of England's announcement that it will continue to offer indexed long-term repo operations on a weekly basis until end-September 2016. This is a precautionary step to provide additional flexibility in the Bank's provision of liquidity insurance, further reinforcing the ability of firms to draw on their own liquidity buffers.

• Supported the position of the PRA to allow insurance companies to use flexibility in Solvency II regulations to recalculate transitional measures. These measures smooth the impact of those new regulations.

*via forexlive