Trading

Clearing houses asked to draw up Brexit recovery plans

Bank of England asks: Could you cope with extreme volatility? Could you still offer services if UK votes to leave?

Clearing houses asked to draw up Brexit recovery plans
Photo: iStockPhoto

The Bank of England has called on London's clearing houses to draw up contingency plans on how they would cope in the event of a UK exit from the European Union.

The Bank, the primary supervisor of UK-based clearing houses, wrote privately to the institutions in recent weeks to ask how they would respond to a Brexit, according to people familiar with the situation.

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