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UK banks coped with Brexit due to post-crisis reforms - Broadbent
October 14, 2016 / 10:17 AM / in 9 months

UK banks coped with Brexit due to post-crisis reforms - Broadbent

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Deputy Governor of the Bank of England Ben Broadbent speaks at a Reuters Newsmaker event at Canary Wharf in London, Britain, November 18, 2015.Neil Hall/File Photo

DERBY, England (Reuters) - Deputy Bank of England Governor Ben Broadbent said on Friday that Britain's banking system had coped with the shock result of Britain's decision to leave the European Union in June because of reforms made after the global financial crisis.

"The huge shock of the referendum created potential for precisely the panic about the banking system there had been in 2008 -- but withdrawal of money from the banks didn't happen, because there was much more capital on balance sheets, because of regulation," Broadbent said at a public meeting.

Reporting by Helen Reid; writing by William Schomberg; Editing by Catherine Evans

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