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Author: Tan KW   |   Latest post: Tue, 23 Apr 2019, 6:44 PM

 

BOE tells some UK banks to triple amount of liquid assets before Brexit

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LONDON: The Bank of England has told some UK lenders to triple the amount of easy-to-sell assets they hold to help them weather any no-deal Brexit crisis, the Financial Times reported on Sunday, citing people familiar with the situation.
 
The BOE has told some lenders to hold enough liquid assets to be able to cope with stress of 100 days, instead of the regular 30 days that BOE's Prudential Regulation Authority rules demand, the FT reported.
 
A Bank of England spokeswoman said the central bank had no immediate comment.
 
- Reuters 
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