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BoE's deputy governor warns against relaxing rules for banks after Brexit

Bank of England Deputy Governor Sam Woods warned against relaxing the rules for banks and insurers after Britain leaves the EU, Reuters reported.

Woods said the central bank has no desire to carry out such a move and that the stringency of financial regulation should remain "calibrated roughly where it is now."

He also said it would be undesirable if the U.K. became a rule-taker, continuing to apply EU rules in some form following Brexit.