United Kingdom: Financial Sector Assessment Program-Financial Stability and Managing Institutional, Technology, and Market Transitions

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2022 Issue 107

Publication date: April 2022

ISBN: 9798400207396

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Finance , Money and Monetary Policy , International - Economics , priority exit , Libor Transition strategy , U , K , market , disclosures of U , K , , exits risk , Interbank rates , Financial sector stability , Virtual currencies , Central Bank digital currencies , Global , Europe

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Summary

There has been a very smooth post-Brexit transition, with no material disruption nor any crystalized financial stability risks. This was the result of the U.K. authorities’ (and in some cases the EU authorities) and firms’ extensive preparations. The U.K. authorities have been proactively engaging with the industry, monitored risks, and consistently provided necessary legal certainty in a timely manner. This approach should continue, to the extent that any risks and uncertainties from Brexit remain.