The UK Central Bank Wants British Banks To Prepare Contingency Plans, Explore Possible Outcomes After Brexit

Bank of England Charter sealing 1694

The Bank of England has warned British banks to prepare for a number of potential scenarios two days before Prime Minister Theresa May ignites Article 50. The Bank of England says that lenders will have to provide copies of contingency plans to reassure regulators that they are ready for “a range of possible outcomes.” The “outcomes”…