Federal Reserve stands ready to provide liquidity if needed

The Federal Reserve was "monitoring developments" in global financial markets, in co-operation with other central banks, following the result of the UK's referendum, the US central bank said in a statement.

US rate-setters said they were prepared to provide dollar liquidity through the central bank's swap lines - a financial derivative that allows financial institutions to temporarily exchange flows of currencies - to address pressures in global funding markets "which could have adverse implications for the US economy".