Bank of England eases liquidity system as Brexit transition deal looms
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FILE PHOTO: People walk past the Bank of England in the City of London, Britain, August 23, 2017. REUTERS/Hannah McKay
LONDON (Reuters) - The Bank of England said it will ease its liquidity monitoring system put in place in case Britain left the European Union without a transition deal.
"The likelihood that the UK leaves the EU without a Withdrawal Agreement now appears very low," the BoE's Prudential Regulation Authority said in a letter to banks on Thursday.
"Therefore, the PRA no longer considers the bespoke risk appetite to be required."
(Reporting by Huw Jones; Editing by Alex Richardson)
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