Bank of England warns of lending crisis for EU firms after no-deal Brexit

Stability report says about half of EU companies using
UK-registered banks face being cut off

The Bank of England has sounded the alarm over the risks to City
banks from no-deal Brexit, warning that companies across Europe
could be cut off from their lenders overnight.

Threadneedle Street said the City of London was well prepared to
withstand the shock of Britain crashing out without a deal at the
end of October without banks failing as they did in the financial
crisis. However, there would still be major disruption for
companies.

Source: FS – All-News2-Economy
Bank of England warns of lending crisis for EU firms after no-deal Brexit