bin picking-Bank of England warns Brexit still poses financial risks
The Bank of England in London (INQUIRER.net stock photo)
LONDON — The Bank of England has warned that material risks remain in regard to Britain’s departure from the European Union.
The bank’s biannual Financial Stability Report says Wednesday that while progress has been made toward mitigating the disruption associated with Brexit, actions are needed both by the UK and EU to protect cross-border financial contracts.
Without a UK-EU deal on financial services, a firm could find itself unable to keep servicing a contract for a client on the other side of the Brexit divide.
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