Banks slash billions from UK exposure amid Brexit uncertainty

Australian banks cut their exposure to the United Kingdom by $US16.2 billion ($23.4 billion) in the first six months of 2019, underlining the local banking sector's dwindling ties to the British economy amid Brexit uncertainty.

by Shared by The Age | 7 Nov, 2019

Statistics from the Bank for International Settlements (BIS) show that over the March and June quarters of this year, Australian banks’ total exposure to the UK dropped from $US79 billion to $US62.8 billion, a fall of one-fifth.