BOE Gov Carney: biggest risks to UK financial stability remain on the global front; losing access to elements of the EU could have outsized effects on UK financial system - comments to lawmakers in London
- Brexit process has some potential to amplify global financial stability risks; risks around Brexit are greater for continental Europe than for the UK
- It is highly advisable that there should be a Brexit transition phase; if there's no transition deal, BOE will work to mitigate issues as much as possible
- Describing stability of UK financial system post-Brexit as a game of Jenga is a 'decent analogy