Anthony Browne, the chief executive of the British Bankers’ Association said that investors are eyeing to relocate and provide services across Europe. The banks have called settlements for transition to be put in place after Britain leaves the EU. He said that among the sector banking was probably more affected by Brexit than any other sector in economy.
Brexit News
After the Brexit vote, with London and Scotland suffering the most after some investors retreated from the sector, UK commercial property investments dropped at its lowest level in four years.
Just after two days of IMF cautions, BoE has warned over blink economic outlook in post-Brexit era. Prior to that BoE governor has described Brexit as the biggest domestic financial stability risk. BoE and its governor have drawn criticisms from the pro-Brexit campaigners following clear stance against leaving EU.
Members of The Hundred Group are being surveyed over their planning centering the referendum poll on Brexit. The group members are the finance directors of Britain’s largest listed as well as private companies. The survey appears following difficult past experiences in cases of other membership based business organizations prior to the referendum.
The Financial Policy Committee (FPC) of Bank of England (BoE) has warned on Tuesday about possible financial outlook after Brexit. To tackle the possible lending market debacle, the committee has raised bank’s capital buffer requirement. However, the move has been criticized by the Brexit supporters whenever the referendum poll gets nearer.
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