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ECB asks Eurozone banks to detail Brexit contingency plans

Discussion in 'Fundamental Analysis' started by ForexLive, May 10, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Reuters sources report The ECB asked banks to detail how they would deal with a shock to markets and changes they may have to make to their business models. The story has one interesting note, citing a banking consultant at Accenture. He said most banks were vetting and hedging trading positions to avoid losses. That will lead to a slow unwind after the vote that will put a big under GBP, perhaps more than is priced in now.

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