US G-Sibs ‘dramatically’ cut exposure to Brexit risk – Fed research

Brexit

Large US banks have spent the last three years, four months and two weeks “dramatically” reducing their exposure to Brexit-related risks, a financial analyst from the Federal Reserve finds. 

In an economic letter, Alexander von Hafften uses bank-level data on US global systemically important banks (G-Sibs) to examine how their exposure to the UK has changed since the country voted to leave the European Union on June 23, 2016.

While Brexit may pose little threat to the real US economy, from a

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