Bank of England raised UK bank solvency due to Brexit
Brexit risks start to emerge
Bank of England took measures to prevent the Brexit influence and lowered its demands to the banks on 0.5% countercyclical budget buffer. The Financial Stability Report, published on the official website of the bank, writes this.
According to the report, it will reduce regulatory capital buffers by £5.7 billion, raising banks’ capacity for lending to UK households and businesses by up to £150 billion.
The FPC expects to maintain a 0% UK countercyclical capital buffer rate until at least June 2017.
"There is evidence that some risks have begun to crystallize. The current outlook for UK financial stability is challenging", reads the report.
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