"We are monitoring the plans of the financial institutions in the UK, their plans for how they are going to deal with Brexit. We are also monitoring the plans of all of the European Union firms that operate in the UK," Cunliffe told broadcaster Sky News in an interview.
"And if we start to see financial stability risks coming out of those plans ... then we will take action," he added.Many banks are starting to implement plans to move some staff and operations out of Britain before the country leaves the European Union in March 2019. (Reporting by David Milliken; Editing by Toby Chopra)