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UK banking system resilient to no-deal Brexit


The Bank of England’s latest Financial Stability Report maintains that the UK banking system remains resilient to the financial impact of a worst-case disorderly Brexit. The Bank warned that the “perceived likelihood” of a no-deal Brexit had increased since Theresa May’s resignation, which would bring with it “material risks of economic disruption” and “significant” market volatility. However, the BoE also said Britain was more prepared for a disorderly Brexit than it was six months ago.


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