British banks able to absorb the double shock of Brexit and covid, according to regulator

Posted on Dec 11, 2019 2020 at 12:55Updated 11 Dec. 2020 at 13:21

The health report is favorable. The Bank of England (BoE) said on Friday that major UK banks are strong enough to endure both the coronavirus crisis and the consequences of Brexit. A few days before the United Kingdom’s effective exit from the European Union (EU), and while the probability of a “no deal” looms, this satisfaction from the British supervisor is intended to be rather reassuring for the financial sector and the British economy in general.

In its report on financial stability (the third published since the beginning of the year, compared to two in normal times), the BoE indicates that the British banking system is able to cope with “ a wide range of possible economic scenarios “And that he has the” ability to continue to (lend) to businesses and households even if the economy deteriorates significantly “.

Leave a Reply

Your email address will not be published. Required fields are marked *