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BoE's Financial Policy Committee warns about Brexit risks 

October 3, 2017

DigitalLook, Oliver Haill

"With European Union banks accounting for close to 10% of lending to British companies, the Bank's Financial Policy Committee said the "risk of disruption to wholesale UK banking services appeared to be slightly higher than previously thought, given that a number of EEA (European Economic Area) firms branching into the UK were not sufficiently focused on addressing this issueā€¯.

There also remain "significant risks from disruption to cross-border clearing activity between the UK and EU", the FPC said, noting that central counterparties, such as LCH and ICE in the UK, provide important clearing and other services to EU clients across a range of markets."

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