BOE MPC Member Sir Jon Cunliffe crossed the wires late-Thursday, via Reuters, noting that the British banks are likely to face tighter capital requirements to counter relief given to banks in the immediate aftermath of the Brexit-vote.
Key Quotes:
"We will offset this elsewhere to ensure that the overall stringency of the capital requirement is not weakened"
"It is in my view more likely that if they are lost in London they would be lost to Europe – for the foreseeable future at the least"
"And to the extent that the transition to whatever new arrangements will apply is not orderly and smooth, the costs and risks will be greater"
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD tests descending channel’s upper boundary near 1.1250
EUR/USD remains steady after registering more than 0.50% gains in the previous session, trading around 1.1240 during the Asian hours on Tuesday. On the daily chart, technical analysis indicates a bearish bias is in play, as the pair continues to trade lower within a descending channel pattern.
GBP/USD surrenders some gains, returns to 1.3340
GBP/USD continues to shed ground following earlier tops above the 1.3400 mark on Monday, approaching the 1.3340 zone following a gradual recovery in the Greenback as investors continue to assess Moody’s decision to downgrade the US credit rating.
Gold price sticks to intraday losses amid positive risk tone; holds above $3,200
Gold price maintains its offered tone through the Asian session on Tuesday though it manages to hold above the $3,200 round figure. Against the backdrop of rising trade optimism, hopes for a Russia-Ukraine ceasefire remain supportive of a positive risk tone.
Solana set for a consensus switch with the introduction of Alpenglow
Solana (SOL) showed signs of recovery in the American trading session on Monday following the introduction of a new consensus protocol, Alpenglow, which would replace the network's current Proof-of-History and TowerBFT mechanisms.
China April slowdown shows the impact of economic uncertainty
Trade war uncertainty is denting Chinese confidence, resulting in slower economic activity in April. Retail sales and fixed-asset investment both underperformed forecasts amid heightened caution. Yet the impact on manufacturing was less than feared.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.