The Bank of England announced today that British banks may deal with hard Brexit in March if necessary and rejected EU warnings that lenders are not prepared enough.
The Bank of England's fiscal policy committee said British banks had enough capital and would not need more to face any market turmoil if Britain left the EU in March without a deal.
Earlier in the week, the European Union’s Banking indicated that banks had failed to make enough progress in their preparations for Brexit and should not expect help.
The Finance Committee announced in March that it would review this month whether the buffer should be lifted due to other risks accumulated over the course of the credit cycle.
