BREAKING NEWS

BREAKING NEWS

BoE brings forward bank stress test results due to Brexit deal

Now Reading :

BoE brings forward bank stress test results due to Brexit deal

BoE brings forward bank stress test results due to Brexit deal
@ Copyright :
Luke MacGregor(Reuters)
Text size Aa Aa

LONDON (Reuters) - The Bank of England said on Tuesday it would bring forward publication of bank stress tests to Nov. 28 so that it could give analysis of how the central bank would cope with a possible "no deal" Brexit before parliament votes on a deal.

The BoE said the Financial Stability Report (FSR) and the full results of the Bank's annual stress test of major UK banks would be published on Nov. 28 rather than Dec. 5.

The BoE said it would fulfil a request from parliament's Treasury Committee to provide analysis of how the draft Brexit divorce deal "will affect the Bank's ability to deliver its statutory remits for monetary and financial stability, including in a 'no deal, no transition' scenario."

The committee had requested this analysis be concluded in good time before parliament votes on a deal.

(Reporting by Michael Holden and Guy Faulconbridge; editing by Andy Bruce)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.