Mubasher: The Bank of England (BOE) revealed on Wednesday that all seven banks and building societies passed the stress test.

This demonstrates their ability to withstand disruptions that may accompany the Brexit by the end of March 2019.

“Based on a comparison of this scenario with the stress test, the FPC judges that the UK banking system is strong enough to continue to serve UK households and businesses even in the event of a disorderly Brexit,” the Bank of England's Financial Policy Committee (FPC) said on Wednesday, adding that “No bank needs to strengthen its capital position as a result of the stress test.”