BoE says banks can cope with Brexit and pandemic

But central bank warns EU actions are risking some disruption as transition period ends

Bank of England
Photo: Juno Snowdon Photography

The Bank of England says UK banks are sufficiently resilient to withstand a major economic downturn, even as the end of the Brexit transition and rising insolvencies due to Covid-19 loom.

In its latest financial stability report, published today (December 11), the BoE estimates banks have enough capital to absorb around £200 billion ($260 billion) of losses, far more than would be expected under its central forecast for the economy.

Based on a ‘reverse stress test’, the BoE estimates a shock

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account