January 23, 2020 / 10:26 AM / a month ago

Bank of England eases liquidity system as Brexit transition deal looms

LONDON, Jan 23 (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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