Thread by @faisalislam

Bank of England Financial Stability Report says “perceived likelihood of No Deal has increased” but that UK banks are resilient to a “worst case disorderly Brexit” - but not just that - that at the same time as US-China 25% tariff trade war...

Bank of England also says that “increased Brexit uncertainties” have led to “much weaker” foreign funding of commercial real estate and high risk loans in Q1

Here is Governor Carney
“Perceived likelihood of No deal has increased” preparedness increased too but “material risks of economic disruption remain” in financial system.

Carney announces exercise in assessing financial stability risks arising out of climate change...

“Nobody wants a global trade war... nobody wants a disorderly Brexit” Governor Carney tells me when I ask if he really thinks the banks would be strong enough if a global trade war occurred at the same time as a disorderly Brexit...

Carney is asked to back up Boris Johnson’s contention that the costs of a No Deal Brexit would be “vanishingly small” - while he says the financial sector is prepared it would be a “Major economic shock”

Carney - “we take note of the Woodford situation - which is not a financial stability issue its an investor protection issue” but it is symptomatic of a wider issue. “Financial stability risks are increasing”.

Carney says it isn’t the time to discuss the IMF Managing Director vacancy - praises Lagarde a lot though, and certainly suggests he has a lot to say about it when the vacancy is confirmed.