Bank of England warns Brexit still 'material risk' to financial system

The FPC said in its meeting on 12 March that both UK and EU politicians need to "tackle these [market] risks" as a priority. "Brexit could disrupt the financial system directly," the FPC said. "The combination of a disorderly Brexit and a severe global recession and stressed misconduct costs could result in more severe conditions than in the stress test." Four key challenges for my successor - FCA chairman Griffith-Jones Despite the warning, the FPC did say Brexit risks were yet to warrant additional capital buffers for the banking system. "The FPC continues to judge that, apart...