BoE urges banks to ramp up no-deal Brexit preparations
The Bank of England has told banks they need to increase their efforts to prepare for the possibility that the UK fails to reach a trade deal with the European Union.
The UK avoided one Brexit cliff edge, as it left the EU on January 31 this year having struck a withdrawal agreement with the bloc. But that agreement was silent on the question of trade – including financial services – and a new cliff edge looms on December 31.
In a recent call with senior bankers, BoE governor Andrew Bailey
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