If the funding flow is interrupted by Brexit and forces a "sharp closure" of the current account deficit – which currently stands at 3.7 per cent – that leads to the dramatic tumble in the currency.
Forecasts of the current account surplus diverge.
By 2010, the five biggest players had 87% of the current account market.
Between them, RBS, Lloyds, HSBC and Barclays hold more than 70% of the current account market.
The trade surplus, the largest component of the current account, fell 7.1percentt.
Beale said the society was making slow progress in its penetration of the current account market.
Rival bank Lloyds estimates that Santander now has 20% of the current account market by value.
The beefing up of the current account switching service set up three years ago.
600 branches – about 20% of its branch network – which represents a 4.6% share of the current account market.
With 631 branches, TSB has 6% of the UK bank branch network, but controls 4.2% of the current account market.
COHEN -- Over the longer term it might move lower because of the current account issues and so on.
