Banks coped well with COVID, post-Brexit reforms next, says Bank of England

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Economy53 minutes ago (Sep 22, 2021 12:33PM ET)

(C) Reuters. FILE PHOTO: A person stands outside the Bank of England in London, Britain, September 13, 2021. REUTERS/Hannah McKay

LONDON (Reuters) – Britain’s banks and insurers have weathered the COVID storm well and regulators can now press ahead with post-Brexit reforms to smaller lenders and insurance capital requirements, Bank of England Deputy Governor Sam Woods said on Wednesday.

“Looking across the banking and insurance sectors as a whole, capital and liquidity positions are strong and operational resilience has largely held up to COVID and cyber pressures,” Woods said in his annual Mansion House speech in London’s historic financial district.

Banks coped well with COVID, post-Brexit reforms next, says Bank of England

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