G20 watchdog says markets coped well with UK Brexit vote aftermath

[LONDON] The world's financial system coped well with market volatility following Britain's vote last month to leave the European Union, the global Financial Stability Board said on Thursday.

The FSB is chaired by Bank of England Governor Mark Carney and coordinates financial regulation for the Group of 20 economies.

At a meeting in China, the board looked at market volatility following the United Kingdom's vote to leave the European Union.

"During this period, the global financial system has continued to function effectively," the FSB said in a statement.

"Authorities are monitoring market developments and stand ready to address any financial stability issues, should they arise. Vulnerabilities from non-performing loans and incomplete bank balance sheet repair remain in some parts of the financial system and should be addressed."

REUTERS