BoE FSR: Brexit response reversed - HSBC
|In its latest Financial Stability Report, the BoE's Financial Policy Committee announced a number of measures which are like paring back of the response to the EU referendum result, according to the research team at HSBC.
Key quotes
“In its Financial Stability Report, the Bank of England's Financial Policy Committee announced a number of measures, including (i) raising the counter-cyclical capital buffer from zero to 0.5% (ii) raising the leverage ratio requirement from 3.0% to 3.25% (iii) 'bringing forward' its assessment of consumer credit stress tests, with recommendations due in July.”
“In part, this is a paring back of the response to the EU referendum result. But as with previous FPC moves, the measures are largely precautionary at this stage and unlikely to require significant near term changes for any major UK banks.”
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