Latest BOE Financial stability report
Will reduce counter cyclical capital buffer to 0.0% from 0.5% with immediate effect until June 2017 at the least
CCB cut will reduce buffer by £5.7bn and raise bank lending capacity by £150bn (not mil as I put in the title)
FPC is ready to take any further action needed to support financial stability
Will give insurers more flexibility to deal with a sharp fall in market interest rates
BOE stands ready to take action to ensure capital and liquidity buffers can be drawn on to support lending
BOE needs to reduce any pressure on firms to restrict supply of credit and provision of financial services
BOE closely monitoring commercial real-estate, buy-to-let, investor appetite for UK assets and fragile market liquidity
Current outlook for financial stability is challenging and some Brexit risks are starting to crystallise
Carney is up next to go over the report and you can watch him live from the Old Lady here