World News

Bank of England eases liquidity system as Brexit transition deal looms

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)