RBS increasing liquidity by £100m in anticipation of Brexit Uncertainty
RBS is the first UK bank to prepare for Brexit uncertainty. It is setting aside a budget of £100m in anticipation of unexpected expenses.
Deputy of the Bank of England and chief of the PRA, Sam Woods stated that banks should plan for the “bad outcome” of the Brexit and boost their liquidity.
Non the fact that RBS’s increase in its profit, the share price plunged by 4.5% after the announcement of its trading update. The figures of last quarter were £392 million, versus £448 million of current quarter.
While HSBC secured liquidity of $245 million at its half year accounts report, which was linked to greater economic uncertainty, RBS is the first big UK bank to set aside a budget and link it specifically to Brexit uncertainty.
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