Brexit

Bank of England tells the City: show us your Brexit plans

Mark Carney tells a London audience that banks and regulators must be prepared for 'any potential scenario'

Mark Carney, Bank of England Governor
Mark Carney, Bank of England Governor Photo: Getty Images

The Bank of England has written to UK financial services firms that conduct activities in the EU - including US investment banks with a London subsidiary - asking them to submit a snapshot of their plans for Brexit by mid-July.

In a letter today, Sam Woods, chief executive of the Prudential Regulation Authority said the Bank expected "all firms with cross-border activities between the UK and the rest of the EU to undertake appropriate contingency planning" for Brexit.

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