BIS media statement on the outcome of the EU referendum in the United Kingdom

The outcome of the EU referendum in the United Kingdom has resulted in high volatility in markets. Extensive contingency plans by the private sector and central banks have been put in place to limit disturbances in financial markets. Stronger capital and liquidity buffers in the private sector have also made financial systems more resilient. Central banks have already communicated that they are closely monitoring the situation and stand ready to take the necessary actions to ensure orderly market functioning.

There is likely to be a period of uncertainty and adjustment. The United Kingdom is closely integrated in the global economy, and it hosts one of the world's most important financial centres. With good cooperation at a global level, we are confident that uncertainty can be contained and that adjustments proceed as smoothly as possible.