«

»

Nov
28

Survival after disorderly Brexit is possible for UK lenders, says Carney

Stress tests show impact would be ‘no worse’ than this year’s tests, which were at extreme of what might be expected

Mark Carney, the governor of the Bank of England, described the result of this year’s stress tests on seven major lenders as evidence they can withstand a disorderly Brexit.

Carney said the Bank had reached this judgment after considering a variety of factors, including the logistical impact faced by airlines and customs, as well as issues the City faces from processing complex derivatives transactions without a transition deal.

Related: High street banks ‘can cope with disorderly Brexit’

Related: London house prices fall for first time in eight years as rest of UK rises

Continue reading…