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ECB's Nowotny expects no major banking disruption from Brexit insecurity

ECB's Nowotny expects no major banking disruption from Brexit insecurity
Austria's National Bank, OeNB, Governor Ewald Nowotny speaks during an economics conference in Linz, Austria, July 5, 2018. REUTERS/Lisi Niesner   -   Copyright  LISI NIESNER(Reuters)
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VIENNA (Reuters) – The European Central Bank and national central banks have been preparing for all eventualities linked to Brexit for quite some time, ECB policymaker Ewald Nowotny said on Wednesday.

The day after Britain’s lower house of parliament rejected the European Union withdrawal deal negotiated between London and Brussels, Nowotny said he expected no major disruptions in the banking sector linked to the insecurity generated by that vote.

He made the comments in a speech to a Euromoney conference on central and eastern Europe.

(Reporting by Francois Murphy; Editing by Catherine Evans)

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