The Bank of England has written to the UK’s biggest financial firms, urging them to plan for “all eventualities” from the UK leaving the European Union.

Bank governor Mark Carney said the “vast majority” of City firms already had contingency plans in place.

However, he said that some financial firms still needed to prepare in case of a “more extreme” outcome.

In his Friday speech, Mr Carney urged the UK and EU to recognise each other’s bank rules after Brexit.

Goldman Sachs, HSBC and UBS are among the banks that have said they will move some jobs out of London as a result of Brexit.

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