Sam Woods, deputy governor of the Bank of England (BoE), said on Thursday that there is absolutely no intention to waken bank capital rules in Britain after Brexit.
Additional takeaways
“No interest in having a race to the bottom in rules.”
“Will focus on high regulatory standards, open markets and dynamism in regulation after Brexit.”
“After Brexit, will look at how to simplify rules for building societies and small banks.”
“Looking to move to a graduated capital regime for banks, simpler for smaller lenders.”
Market reaction
The GBP/USD pair largely ignored these comments and was last seen losing 0.62% on a daily basis at 1.3140.
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