brand Carney sets 14 July deadline to see plans,saying firms must prepare for ‘all eventualities’ as he calls on politicians not to slice City adrift from Europe The Bank of England has given financial firms a deadline of 14 July to account for how they are planning for the UK’s departure from the EU and warned them to be ready for all possible outcomes, including a hard Brexit.
The Bank wrote to hundreds of banks, or insurers and other financial firms on Friday ordering them to get contingency plans in place. The drag follows prime minister Theresa May’s triggering of article 50 final week,formally launching the Brexit process. Related: Ryanair 'will have to suspend UK flights' without early Brexit aviation deal Continue reading...
Source: theguardian.com