Bank of England prepares to protect City firms from hard Brexit
by Phillip Inman Economics corrrespondent from on (#23558)
Governor Mark Carney begins work on transitional arrangements to maintain London's stature in global finance
The Bank of England is pushing ahead with plans for transitional arrangements after Brexit negotiations in an attempt to protect financial institutions from a cliff edge deal that could undermine their stability.
Governor Mark Carney has met senior figures in the City to stress the need for a smooth path out of the European Union that maintains its stature and strong links with the continent.
Related: Bank of England to reveal stress test results for UK's biggest banks
Continue reading...