The Bank of England (BOE) has told some UK banks to triple the amount of easy-to-sell assets to help sail through any no-deal Brexit crisis, the Financial Times reported on Sunday, citing people familiar with the situation.
Under new guidelines, the lenders need to hold enough liquid assets to be able to cope with the stress of 100 days, instead of the regular 30 days, as required by the BOE’s Prudential Regulation Authority rules.
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