ECB and BoE activate swap line ahead of no-deal Brexit

Eugenia Jiménez
ECB and BoE activate swap line ahead of no-deal Brexit

The European Central Bank and the Bank of England have agreed an emergency currency swap line to keep markets operating in the event of UK's possible departure from the European Union later this month. The agreement, aimed at ensuring banks have access to cash if the UK crashes out of the EU without a deal, means the Bank of England will offer to lend euros to UK banks on a weekly basis while the ECB will receive pounds from the ECB in exchange for euros. "The activation marks a prudent...

To continue reading this article...

Join International Investment

Join International Investment today

Unlock members-only benefits:

  • Unlimited access to real-time news, industry insights, video features and market intelligence
  • Stay ahead of the curve with spotlights on international financial centres, regional trends international advice and global industry leaders
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Hear the latest cross jurisdictional developments in wealth planning, tax, regulation, investing, retirement and protection
  • Members-only access to the Editor’s weekly news roundup newsletter
  • Members-only access to analysis via our exclusive industry polls
  • Be the first to hear about our events and awards programmes

Join now


Already a International Investment member?