Topic filter : Contingency Plan

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.... . This week, a senior Goldman Sachs executive said it would move jobs away from London and bulk up its European presence by "hundreds of people" as part of Brexit contingency plans. ... [Read full article on BBC ]
Friday 24th of March 2017 09:49:11 AM
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....The Bank of England has asked UK banks, insurers and other financial institutions to draw up comprehensive plans for how they will deal with Britain’s exit from the European Union, and will scrutinise them closely. Two days before Theresa May’s government plans to trigger article 50 and begin two years of negotiation over the UK’s departure, the Bank said City institutions would have to provide copies of contingency plans to reassure regulators that they were ready for “a range of possible outcomes”. ... [Read full article on Guardian ]
Monday 27th of March 2017 09:26:41 AM
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....David Davis said a "sustainable" system would take into account the needs of the NHS and different industries. He also said the government had a "huge contingency plan" for the UK leaving the EU without a deal. ... [Read full article on BBC ]
Monday 27th of March 2017 10:20:33 PM
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.... . The BBC understands contingency plans to ensure the "orderly failure" of the 150-year-old bank are well advanced. ... [Read full article on BBC ]
Friday 24th of March 2017 09:52:14 AM
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.... The value of the bank’s bonds fell to fresh lows on Friday, suggesting that investors have taken little reassurance from the bank’s official statement in the morning. It has emerged that the Bank of England has placed Co-op Bank under “intensive supervision” with contingency plans to ensure an “orderly failure” if a sale or fresh capital raising is not agreed. ... [Read full article on Guardian ]
Friday 24th of March 2017 10:12:57 AM
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Latest Finance News related to Contingency Plan

Immigration should rise and fall after Brexit, David Davis says image
....David Davis said a "sustainable" system would take into account the needs of the NHS and different industries. He also said the government had a "huge contingency plan" for the UK leaving the EU without a deal. ...
UK banks asked to draw up plans to show they are prepared for Brexit image
Source : Guardian [Read Article] Monday 27th of March 2017 09:26:41 AM
....The Bank of England has asked UK banks, insurers and other financial institutions to draw up comprehensive plans for how they will deal with Britain’s exit from the European Union, and will scrutinise them closely. Two days before Theresa May’s government plans to trigger article 50 and begin two years of negotiation over the UK’s departure, the Bank said City institutions would have to provide copies of contingency plans to reassure regulators that they were ready for “a range of possible outcomes”. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
.... The value of the bank’s bonds fell to fresh lows on Friday, suggesting that investors have taken little reassurance from the bank’s official statement in the morning. It has emerged that the Bank of England has placed Co-op Bank under “intensive supervision” with contingency plans to ensure an “orderly failure” if a sale or fresh capital raising is not agreed. ...
Co-op Bank sale plan attracts suitors image
Source : BBC [Read Article] Friday 24th of March 2017 09:52:14 AM
.... . The BBC understands contingency plans to ensure the "orderly failure" of the 150-year-old bank are well advanced. ...
Deutsche Bank commits to new London office image
Source : BBC [Read Article] Friday 24th of March 2017 09:49:11 AM
.... . This week, a senior Goldman Sachs executive said it would move jobs away from London and bulk up its European presence by "hundreds of people" as part of Brexit contingency plans. ...
Goldman Sachs to move hundreds of staff out of London due to Brexit image
Source : Guardian [Read Article] Tuesday 21st of March 2017 05:26:34 PM
....Goldman Sachs is to start moving hundreds of staff out of London before a Brexit deal is struck, the bank’s European boss has confirmed. Richard Gnodde, chief executive of Goldman Sachs International, said on Tuesday the decision to relocate workers was part of the bank’s contingency plan for the UK leaving the EU. ...
Goldman Sachs to expand EU presence ahead of Brexit image
Source : BBC [Read Article] Tuesday 21st of March 2017 03:00:44 PM
....If all goes according to the two-year negotiations allowed for in the official timetable, Brexit should happen in March 2019. But Mr Gnodde told CNBC that Goldman Sachs would not wait until the end of the Brexit talks to "execute on its contingency plans". ...
Torrey Canyon disaster – the UK's worst-ever oil spill 50 years on image
Source : Guardian [Read Article] Saturday 18th of March 2017 08:00:33 AM
....Government and industry responses to oil spills are much better today, partly as a result of Torrey Canyon, according to Hawkins. Oil spill contingency plans, something that did not exist in 1967, are in place around the coast. ...
No-deal Brexit 'would put UK in worst trading position of rich nations' image
....Ministers and officials were already planning for such an outcome, Davis said, while stressing it was not a favoured option. “Understand, it’s a contingency plan – the aim is to get a good outcome,” he said. ...
Brexit without trade deal would open Pandora's box, says CBI chief image
Source : Guardian [Read Article] Thursday 2nd of March 2017 06:25:49 PM
....As Theresa May prepares to trigger the formal talks process for leaving the EU, Drechsler used a speech at Mansion House in the City of London on Thursday night to warn that the two-year article 50 process would be a “roller-coaster” for businesses trying to plan for the future. The prime minister has said that at the end of the two-year process, no deal would be better than a bad deal, and the Brexit secretary, David Davis, has warned his cabinet colleagues to draw up contingency plans in case Britain has to exit without a deal and is forced to trade with the rest of the EU on less preferential World Trade Organisation terms. ...
BA cabin crew to stage a new seven-day strike over pay image
Source : BBC [Read Article] Friday 24th of February 2017 05:30:11 PM
.... . BA said once contingency plans had been finalised it would publish more details next week. ...
Government intervention has led to higher energy bills, claims Lords report image
.... Hollick said the biggest surprise during the committee’s inquiry was the “fragility” of the government’s nuclear ambitions, which envisage new nuclear reactors in Somerset, Suffolk, Anglesey and Cumbria. “It is imperative that the government publishes it contingency plans for how it will make up the capacity due to be provided by these plants in the event one or more does not succeed or is delayed,” the report says. ...
Government meddling makes energy costlier, peers say image
Source : BBC [Read Article] Friday 24th of February 2017 12:23:42 AM
....". The Lords also call for the government to publish a contingency plan in case Hinkley Point C is delayed. ...
Losing banking jobs to EU 'threatens financial stability across Europe' image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:00:11 PM
....He echoed that warning in remarks accompanying HSBC’s worse-than-expected results yesterday, pointing to “uncertainties facing the UK and the EU as they enter Brexit negotiations”. HSBC will implement its contingency plan – to move 1,000 roles from London to Paris – “progressively over the next two years” but American, Swiss and Japanese investment banks may not have as much time because of the way they are structured. ...
BA cabin crew call four-day strike over pay image
Source : Guardian [Read Article] Friday 10th of February 2017 05:04:46 PM
.... The offer’s there, it’s still available to them – it’s not going to change. We have contingency plans that are robust and very effective. ...
British Airways cabin crew to stage six-day walkout in pay dispute image
Source : Guardian [Read Article] Friday 27th of January 2017 05:03:28 PM
....”. The airline said it would publish more details next week of its contingency plans for passengers who have booked to travel during the strike. ...
Citigroup plans new operations away from London after Brexit image
Source : Guardian [Read Article] Tuesday 24th of January 2017 07:49:23 PM
.... He told a conference in Dublin he thought many other financial firms with London operations would be working to a similar timescale. The City is rife with speculation that the triggering of article 50 – which is planned for March and will signal the formal negotiations to leave the EU – will lead to major US, Japan and Swiss banks in the UK implementing their Brexit contingency plans. ...
Is the City of London going to hell in a Brexit handcart? image
Source : Guardian [Read Article] Thursday 19th of January 2017 07:41:32 PM
....The reality, one suspects, is that these positions are not as far apart as they seem. Everybody is trying to anticipate the outcome of the Brexit negotiations but, in the absence of facts, the bankers’ statements are a cocktail of contingency planning and hazy guesswork. ...
Thomas Cook to fly almost 1,000 Britons out of the Gambia image
Source : Guardian [Read Article] Wednesday 18th of January 2017 12:06:02 AM
.... “They’re worried there might be war,” said one Gambian immigration official. As well as implementing their contingency plan to bring all 985 UK customers they currently have on holiday in the Gambia home, Thomas Cook have also cancelled all flights to the Gambia until Friday 20 January. ...
Transport trouble ahead as air, rail and tube strikes loom image
Source : Guardian [Read Article] Thursday 12th of January 2017 07:08:52 PM
....But the airline described the move as “bizarre and regrettable”. BA said that the first strike had failed to disrupt its customers, who all reached their destinations, and it would set out new contingency plans to ensure all booked passengers could travel again next week. ...
MPs hear call for five-year transitional Brexit deal image
Source : BBC [Read Article] Tuesday 10th of January 2017 01:35:55 PM
....He added that if the UK's banking industry ended up outside the EU single market, customers would find that it was slower to make payments, and those customers such as smaller businesses would probably have to pay more for the banking services which take place in an almost seamless way today. Mr Flint told the MPs his bank had already started contingency planning for a Brexit deal that left the UK outside the EU single market, with France, Dublin, Amsterdam and Luxembourg as likely destinations for banking operations currently based in London. ...
Hard Brexit threatens global financial system, City chiefs tell MPs image
Source : Guardian [Read Article] Tuesday 10th of January 2017 12:42:39 PM
....Xavier Rolet, chief executive of the London Stock Exchange, said Brexit could have an impact on “unimaginably large” contracts which are cleared through the City and which might need to be transferred to the 27 remaining EU member states or other financial centres. As Rolet called for a five-year transition period for the UK to exit the EU, MPs on the Treasury select committee were told the triggering of article 50 – the formal process initiating departure from the EU – in March could prompt banks to implement contingency plans to shift business out of London. ...
BA cabin crew plan new strikes image
Source : BBC [Read Article] Tuesday 3rd of January 2017 07:38:56 PM
....BA said it planned to "ensure that all our customers travel to their destinations". It said further details for customers would be published on Friday 6 January, once it had finalised contingency plans. ...
British Airways cabin crew to go on strike next week in pay dispute image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 07:25:18 PM
....About 2,500 members of BA’s mixed fleet – which is predominantly made up of younger and lower-paid cabin crew – will walkout for 48 hours from next Tuesday after the company’s latest offer was rejected. BA said it would “plan to ensure that all our customers travel to their destinations” despite the strike, adding that it would publish details of its contingency plans on Friday. ...
Brexit: banks consider whether to start moving business out of UK image
Source : Guardian [Read Article] Tuesday 3rd of January 2017 06:00:45 AM
. Brexit could have an impact on the City in the coming months as banks decide whether to implement contingency plans to ensure they retain access to the remaining 27 EU member states by moving business out of the UK. ...
Mark Carney's year in quotes: 'We are actors in a play written by others' image
Source : Guardian [Read Article] Wednesday 28th of December 2016 11:29:51 AM
....In April, Carney said Britain’s economy could struggle to grow if the country voted to quit the EU, and warned that Britain’s economy already appeared to be losing steam before the EU referendum. “Risks around the referendum are the biggest risks facing the UK economy, we have contingency planning to decrease the potential impacts of uncertainty,” he told the Stockport Express newspaper. ...
Theresa May urged to get transitional Brexit deal for City image
Source : Guardian [Read Article] Friday 23rd of December 2016 12:01:01 AM
....”. There are suggestions that triggering article 50 in March – signalling the formal process of exiting the EU – could prompt firms to start implementing contingency plans to ensure they are able to continue conducting business while a Brexit deal is agreed. ...
Business and parliament must work together to avoid a 'cliff edge' Brexit image
Source : Guardian [Read Article] Friday 23rd of December 2016 12:01:01 AM
.... Given the City’s dominance in critical areas such as foreign exchange and debt issuance, a sudden rupture could increase the cost of borrowing across Europe. Better to adjust slowly and avoid the need for contingency plans and double overheads. ...
Union leader says No 10 demonising working people in strikes row image
Source : Guardian [Read Article] Monday 19th of December 2016 05:54:12 PM
....Alex Cruz, BA’s chief executive and chairman, said: “We are making sure that this attempt to ruin Christmas for thousands of our customers fails. Over the weekend, we have been working on detailed contingency plans to ensure that we are able to operate our normal flight programme from all our airports on both Christmas Day and Boxing Day. ...
No 10 accuses striking workers of 'contempt for ordinary people' image
Source : Guardian [Read Article] Monday 19th of December 2016 01:01:02 PM
....Alex Cruz, the British Airways chief executive and chairman, said: “We are making sure that this attempt to ruin Christmas for thousands of our customers fails. Over the weekend we have been working on detailed contingency plans to ensure that we are able to operate our normal flight programme from all our airports on both Christmas Day and Boxing Day. ...
Strikes show contempt says Downing Street image
Source : BBC [Read Article] Monday 19th of December 2016 01:34:53 AM
....British Airways cabin crew belonging to the Unite union are due to strike on Christmas Day and Boxing Day in a row over pay. The airline said it had "detailed contingency plans" that will allow it to run a full schedule even if the cabin crew strike does go ahead. ...
Talks planned to avert pre-Christmas airports staff strike image
Source : BBC [Read Article] Saturday 17th of December 2016 03:18:00 PM
....It is unclear how many airports would be affected if the strikes go ahead, but airlines at Edinburgh, Aberdeen, Glasgow, Leeds/Bradford, Liverpool, Newcastle, Heathrow, Stansted and Manchester airports all employ Swissport staff. A spokesman for MAG, owners of Manchester, Stansted, East Midlands and Bournemouth airports, said: "We are aware of this potential action and are contacting the airlines which use Swissport to understand their contingency plans to minimise any disruption were the strikes to go ahead. ...
Baggage handlers down suitcases as Britons get ready for wave of strikes image
Source : Guardian [Read Article] Saturday 17th of December 2016 11:42:55 AM
....Unite national officer Oliver Richardson called on the company to “engage in constructive talks”. Airport representatives have said they are putting contingency plans in place. ...
Airport workers' strike could disrupt Christmas flights image
Source : Guardian [Read Article] Friday 16th of December 2016 06:46:12 PM
....”. A spokesman for MAG, which owns airports including Manchester and Stansted, said: “We are aware of this potential action and are contacting the airlines which use Swissport to understand their contingency plans to minimise any disruption were the strikes to go ahead. ...
Airport staff in pre-Christmas strike image
Source : BBC [Read Article] Friday 16th of December 2016 05:37:38 PM
....It is unclear exactly how many airports will be affected, but airlines at Edinburgh, Aberdeen, Glasgow, Leeds/Bradford, Liverpool, Newcastle, Heathrow, Stansted and Manchester airports all employ Swissport staff. A spokesman for MAG, owners of Manchester, Stansted, East Midlands and Bournemouth airports, said: "We are aware of this potential action and are contacting the airlines which use Swissport to understand their contingency plans to minimise any disruption were the strikes to go ahead. ...
British Airways cabin crew to strike over Christmas image
Source : BBC [Read Article] Friday 16th of December 2016 04:39:47 PM
.... . It said it was working on a contingency plan for Heathrow which would be published in the next three days. ...
Brexit: Warning firms could leave City over uncertainty image
Source : BBC [Read Article] Thursday 15th of December 2016 12:46:58 AM
.... . Lobbying group TheCityUK will endorse that view and privately bankers are finalising contingency plans and some are close to pressing "Go". ...
Urgent Brexit deal needed to avert banking job losses, peers to warn image
Source : Guardian [Read Article] Tuesday 13th of December 2016 06:06:17 PM
....They also warned Davis that their factories often “just have a few hours of parts” stored in inventory due to just-in-time supply chains, so new paperwork hurdles and tariffs would be devastating. Similarly, in the City, bankers report that almost every firm they know is making contingency plans, with varying degrees of irreversibility. ...
Argos Christmas deliveries face delays after drivers vote to strike image
Source : Guardian [Read Article] Tuesday 13th of December 2016 12:15:54 PM
....Argos, which was taken over by supermarket group Sainsbury’s earlier this year, said: “We would encourage both sides to keep talking with the aim of coming to a swift resolution. We also have contingency plans in place and can reassure customers we’re working hard to ensure this will not impact our deliveries this Christmas. ...
Argos drivers plan Christmas strike image
Source : BBC [Read Article] Tuesday 13th of December 2016 11:13:59 AM
....Unite said it would cause "havoc and chaos" for the retailer. A spokesperson for Argos said it had "contingency plans" and that "we're working hard to ensure this will not impact our deliveries. ...
Brexit: French financial regulator wooing London banks image
Source : BBC [Read Article] Thursday 8th of December 2016 12:05:05 AM
....That scheme may end when Britain leaves the EU, with no guarantee that it will be replaced by a similar agreement. It is that uncertainty that had led many financial companies - and particularly international banks - to make contingency plans that would see them transfer a chunk of their business to an EU member country. ...
Mark Carney: European economies face hit if cut off from City of London image
Source : Guardian [Read Article] Wednesday 30th of November 2016 11:41:08 AM
....Carney said there would be transitional arrangements and that it was preferable that firms in the City knew as “much as possible about the desired end point and as much as possible as early as possible about the potential path to that end point”. Article 50, the formal process of leaving the EU, has not yet been triggered and Carney said the timing for firms to implement contingency plans for Brexit “is still some way off”. ...
ECB's Mario Draghi urges UK to disclose Brexit plans image
Source : Guardian [Read Article] Monday 28th of November 2016 06:05:12 PM
....“Draghi’s comments likely reflect a frustration that Carney will be able to relate to, in which central banks have to fulfil certain roles that policymakers traditionally undertook in order to keep the economy stable,” Davdra said. “Draghi‘s comments on Brexit further acknowledge this, in his call for the prime minister, Theresa May, to share more about the Brexit strategy, days after it was revealed Carney was involved in contingency planning in the case of ‘hard Brexit’. ...
Staff at Topshop online depot announce Cyber Monday strike image
Source : Guardian [Read Article] Wednesday 23rd of November 2016 12:42:50 PM
.... We believe our offer to be reasonable in the current economic climate. “Detailed contingency plans are in place and we are confident that there will be no disruption to service. ...
Talks planned on public sector trains image
Source : BBC [Read Article] Sunday 20th of November 2016 02:35:21 PM
.... . He said the contract could be cancelled in 2020 and contingency plans were in place for the Scottish government to take over train services earlier. ...
Mark Carney: political attacks on central banks are a deflection exercise image
Source : Guardian [Read Article] Tuesday 15th of November 2016 03:37:39 PM
....He said banks could start to relocate activities before the end of 2017 if the government begins the article 50 divorce process in March as promised. Banks and insurers were already making contingency plans in case Britain loses a lot of its access to the EU’s single market, he said, and if a hard Brexit is likely, “a number of those firms would take decisions [to leave], that’s the best guidance I can give”. ...
Ireland must plan for possible EU breakup, says economic adviser image
Source : Guardian [Read Article] Tuesday 15th of November 2016 02:39:07 PM
. Ireland should be drawing up contingency plans for the EU unravelling after Brexit and a possible French departure, an economic adviser to successive Irish governments has said. ...
RBS chairman calls on Theresa May to draw up Brexit transitional plan image
Source : Guardian [Read Article] Sunday 13th of November 2016 07:25:15 PM
....Sir Howard Davies said it would be damaging if there was no transitional plan and that banks would have to make decisions based on uncertainty. Speaking to ITV’s Peston On Sunday programme, he said the US and Japanese banks were concerned by the prospect of a hard Brexit and were drawing up contingency plans. ...
Energy supply cuts may send fuel bills soaring image
Source : Guardian [Read Article] Saturday 12th of November 2016 11:30:23 PM
....Earlier this month, the Met Office predicted that the chance of the UK experiencing temperatures in the “cold” category was 30% – 1. 5 times the usual risk – and warned that “contingency planners and others with sensitivity to cold weather might need to consider this elevated level of risk”. ...
Monarch licence must be renewed this week or airline CAN'T sell holidays, says watchdog image
....The regulator was responsible for chartering large aircraft that were positioned at airports served by Monarch in southern Europe on Sunday in case the airline was unable to fly passengers home, according to reports. A CAA spokesman said: "As a responsible regulator that puts consumers first, we have robust contingency plans for a wide range of potential issues. ...
Virgin East Coast rail staff to strike on 3 October image
Source : BBC [Read Article] Monday 26th of September 2016 12:38:33 PM
....Virgin Trains said the changes would have "no impact" on safety and had assured the union there would be no compulsory redundancies. It announced it had a "detailed contingency plan" that meant it could operate a full timetable during the strike. ...
Lloyd's of London considers setting up EU subsidiary image
Source : BBC [Read Article] Thursday 22nd of September 2016 08:17:33 AM
. Insurance market Lloyd's of London is working on "contingency plans" to ensure it can trade across Europe when the UK leaves the EU. ...
Mark Carney describes 'toughest day' as Bank governor image
Source : BBC [Read Article] Friday 16th of September 2016 01:36:20 PM
....Kamal Ahmed: Chocolate, dogs and Craig David - my school day with the governor. The Bank of England had put in place contingency plans to ensure that the UK's banking system would work normally, regardless of the referendum result. ...
Post Office staff plan 24-hour strike over cutbacks image
Source : BBC [Read Article] Thursday 8th of September 2016 10:19:23 AM
....". The Post Office said it was "disappointed by the call for industrial action", but said that contingency plans would minimise disruption to services during the strike. ...

RBS would move HQ south in event of Yes vote in independence referendum
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Source : Telegraph [Read Article] Sunday 14th of August 2016 11:26:28 AM
.... A large proportion of RBS customers are based south of the Border.   Shortly before the independence vote in 2014, RBS confirmed it had drawn up contingency plans to "re-domicile" the bank's holding company to England. ...
Scottish independence would still prompt RBS office move image
Source : BBC [Read Article] Saturday 13th of August 2016 11:00:08 PM
....First Minister Nicola Sturgeon has promised to explore all options to retain Scotland's links with Europe and has said a second independence referendum is now "highly likely". Shortly before the first independence vote in 2014, RBS confirmed it had drawn up contingency plans to "re-domicile" the bank's holding company to England. ...

Bank Holiday train chaos: Virgin staff announce strike over August weekend at same time as Eurostar workers' action
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...."The strikes take into account the August bank holiday weekend, with the union seeking to inconvenience as many families taking well-earned breaks as possible," it said in a statement. "Our detailed contingency plans, however, mean the timetable will run as normal. ...

Politics is ugly enough without MPs calling train drivers 'scabs'
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Source : Telegraph [Read Article] Thursday 11th of August 2016 10:23:02 AM
....David Anderson, the Gateshead MP who now serves as Shadow Northern Ireland and Scotland Secretary, recently wrote to Virgin Trains East Coast (VTEC) to ask when the company planned to use “scab” workers on its trains, information he needed in order to avoid using the services on those days. VTEC had indicated that they had made “contingency plans” to maintain its services in the event of the kind of industrial action by the RMT union that has brought chaos to services in the south of England and Scotland. ...

Tory MP criticises government’s “embarrassingly poor” response to the Dover queues crisis 
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....A government spokesperson said: “The security of our citizens is paramount, and we working closely with the French authorities to ensure the border between our two countries remains secure at Dover - whilst also ensuring goods and passengers move as quickly and efficiently as possible between them. “We are working on contingency plans to tackle disruption and, in the event of further congestion, the A20 will be used to queue ferry traffic. ...

Overwhelmed border guards diverted from other immigration scams to deal with threefold increase in migrants arriving by lorry and Channel Tunnel
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....It admitted that the surge in numbers had meant there was a “likelihood of disruption to planned enforcement operations, as officers are diverted to undertake initial checks to maintain the high levels of security”. It said that it was reviewing training of staff in dealing with illegal migrants and developed detailed contingency plans “at a regional and national level. ...
Housing sales forecast to fall sharply this summer after Brexit vote image
Source : Guardian [Read Article] Wednesday 13th of July 2016 11:01:03 PM
.... Consequently, the immediate outlook for our industry is less clear and it is too early to draw any conclusions regarding market conditions from the short trading period since the referendum. “We had contingency plans in place and we have taken appropriate measures to reduce our risk, such as reassessing land approvals, as we continue to monitor the market. ...
Barratt mulls construction slowdown following Brexit image
Source : BBC [Read Article] Wednesday 13th of July 2016 09:41:30 AM
.... Consequently, the immediate outlook for our industry is less clear and it is too early to draw any conclusions regarding market conditions from the short trading period since the referendum," it said. "We had contingency plans in place and we have taken appropriate measures to reduce our risk, such as reassessing land approvals, as we continue to monitor the market. ...
Carney defends private Osborne Brexit meetings image
Source : BBC [Read Article] Tuesday 12th of July 2016 12:00:42 PM
....He said that reducing the buffer, to encourage banks to keep lending gave them more room. However, he added: "We wouldn't represent this as the single silver bullet, it is part, and should be seen, as part of a series of measures, including contingency planning. ...
Bank of England was warned about Brexit property fund problems image
Source : Guardian [Read Article] Tuesday 12th of July 2016 09:04:33 AM
....The FPC is chaired by the Bank of England governor, Mark Carney. The Bank also released two paragraphs redacted from the last quarterly meeting in March outlining aspects of contingency planning made ahead of the 23 June referendum. ...
Shares stage recovery after referendum meltdown image
Source : Guardian [Read Article] Tuesday 28th of June 2016 04:11:34 PM
.... While this was 10 times as much as in the previous auction, the Bank’s data showed that banks were not scrambling to pay high sums for the loans provided. After Monday’s rout in RBS shares, when they lost 25% at one stage, the bank’s chief executive wrote to staff to reassure them that it had made contingency plans for a Brexit vote. ...
UK firms say it's business as usual but Branson warns on recession image
Source : Guardian [Read Article] Tuesday 28th of June 2016 07:24:57 AM
....”. He told staff that RBS had made contingency plans: “Our day one plan worked, but of course the result of the vote carries with it a range of unknowns about the short, medium and long-term prospects for the UK and its economy,” he said. ...
Market turmoil: Osborne said all the right things, but relief will be temporary image
....Secondly, it will be helpful that Osborne addressed head on the market volatility, which saw global stocks shed a record $2tn on Friday. As expected, he sought to assure investors that the Treasury, the Bank of England and the Financial Conduct Authority had spent the last few months “putting in place robust contingency plans”. ...
Firms plan to quit UK as City braces for more post-Brexit losses image
Source : Guardian [Read Article] Sunday 26th of June 2016 09:40:25 PM
.... Central bank bosses meeting in Switzerland have said they will carefully scrutinise market stability in the weeks ahead. Meanwhile, fears are spreading that an estimated 100,000 roles could be lost in the financial sector if banks press on with contingency plans to move jobs out of the UK. ...
Market turmoil fears likely to force Mark Carney to abandon ECB meeting image
.... HSBC would move 1,000 roles to France, while JP Morgan has said 4,000 jobs could be lost after Brexit. Rumours have swept through the City about how quickly any contingency plans would be implemented, with financial centres in Dublin, Paris, Frankfurt and Luxembourg all cited as potential beneficiaries. ...
Savers’ trusted champion has a positive message: ‘This isn’t a Lehman moment’ image
....Flooding the money markets with cash also spells problems for savers, warns Lewis, as banks will be less bothered about attracting deposits by offering good cash Isa deals. Related: Mark Carney says Brexit contingency plans under way. ...
Business leaders react to EU vote image
Source : Guardian [Read Article] Friday 24th of June 2016 10:51:02 AM
....For the next two years our business is unchanged. Lloyd’s has a well prepared contingency plan in place and Lloyd’s will be fully equipped to operate in the new environment. ...
Mark Carney says Brexit contingency plans under way image
Source : Guardian [Read Article] Friday 24th of June 2016 08:37:09 AM
....Bank of England governor Mark Carney has sought to calm financial market fears about the impact of the UK’s Brexit vote by insisting that Threadneedle Street will take any measures needed to secure economic and financial stability. In a statement choreographed to follow David Cameron’s announcement that he intended to step down as prime minister, Carney said contingency plans drawn up by the Bank and the Treasury would now swing into action. ...
EU referendum: Statement from Bank of England governor Mark Carney image
....But we are well prepared for this. The Treasury and the Bank of England have engaged in extensive contingency planning and the chancellor and I have been in close contact, including through the night and this morning. ...
Pound plunges after Leave vote image
Source : BBC [Read Article] Friday 24th of June 2016 06:13:25 AM
....In a statement, Bank of England governor Mark Carney said the Bank would "pursue relentlessly" its responsibilities for monetary and financial stability, which were unchanged. He said the Bank had put in place "extensive contingency plans" to mitigate the risks associated with the referendum, adding that it stood ready to provide more than £250bn of additional funds to banks through its normal facilities. ...

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