EU exit vote throws up financial stability risks

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UK banks have been some of the hardest hit by today's market turmoil

Markets have responded sharply to the news of the UK's vote to leave the EU today (June 24), though many of the financial stability implications will only become clear further down the line.

The FTSE 100 plunged more than 8% as markets opened, though as of 2.30pm it has subsequently recovered somewhat to around -3%. Sterling hit a 30-year low against the dollar and, despite a slight recovery, is currently down nearly 8%.

Bank stocks took a particular hammering, with shares in Barclays, Lloyds

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