BOE Asks Banks to Boost Liquid Assets Ahead of Brexit, FT Says
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The Bank of England is asking some U.K. banks to hold three times more liquid assets in the event of a market meltdown with a no-deal Brexit later this month, the Financial Times reported, citing people familiar with the situation.
Some lenders must hold sufficient so-called easy-to-sell assets to withstand 100 days of “severe stress” instead of the usual 30 days, the newspaper said. That’s when banks suspend interbank lending.