2016-06-03 14:00

Brexit Alarm Has Bank Watchdog in Sweden Demanding Action Plans

Marcus Ericsson / TT  / Scanpix
Marcus Ericsson / TT / Scanpix
Sweden’s financial regulator has told the banks it oversees to produce action plans showing how they will cope with the potential market shocks that would follow a British exit from the European Union.

“We are in close contact with banks and with other regulated companies that are essential for the smooth functioning of the Swedish infrastructure, and we are making sure they have contingency plans for both outcomes and that they are adequately capitalized and have sufficient liquidity ahead of the mid-summer vote,” Uldis Cerps, head of banking at the Swedish Financial Supervisory Authority, said in a phone interview.

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