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Risks to finance sector from 'no deal' Brexit are 'manageable' - Villeroy

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Risks to finance sector from 'no deal' Brexit are 'manageable' - Villeroy
FILE PHOTO: Governor of the Bank of France Francois Villeroy de Galhau attends a press conference after the Franco-German Financial Council meeting in Berlin, Germany, September 23, 2016. REUTERS/Axel Schmidt   -   Copyright  Axel Schmidt(Reuters)
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PARIS (Reuters) – The financial sector is prepared to cope with the possible fallout if Britain fails to reach an agreement on its departure from the European Union, the Bank of France governor said on Wednesday.

“For financial institutions, the consequences all appear manageable, I say it clearly. Nonetheless, they must be managed,” governor Francois Villeroy de Galhau told the French Senate’s finance commission.

“The financial sector’s preparation is better now than other economic sectors,” he added.

(Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta)

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