BULLET: BOE FPC: Banking System Could Support Econ Through...>

BOE FPC: Banking System Could Support Econ Through 'Disorderly' Brexit

-BOE: FPC Will Increase CCyB From 0.5% To 1.0%, Effective 28 Nov 2018 

-BOE: Consumer Credit And Current Account seen as Non-Brexit Threats

-BOE 2017 Stress Test: No Bank Needs To Strengthen Capital Position      

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The FPC said Tuesday that its 2017 Stress Test showed the UK 

banking sector would be able to provide support to the real economy 

through a range of Brexit outcomes, including a 'disorderly' one. 

Effective 28 Nov 2018, the FPC said the CCyB would rise by 0.5pp to 1.0% 

though this will be revisited H1 2018 when the overall risk picture was 

a little clearer. Consumer credit growth, up 9.9% in the year to Sep, 

and a deterioration in the UK's external balance sheet and current 

account via reduced foreign investment were seen as non-Brexit threats 

to UK financial stability. For the first time since launching its stress 

tests in 2014, no bank needed to strengthen its capital position.