A top Bank of England official has warned that around 10,000 jobs in the UK are at risk on "day one" of Brexit.

Sam Woods, chief executive of the Bank's Prudential Regulation Authority (PRA), said it was "plausible" as many as 75,000 financial roles could be lost if no trade deal was struck with the European Union.

The estimate is not a Bank of England figure but was compiled by consultant Oliver Wyman and is in line with the regulator's thinking, as first reported by the BBC.

Half the forecast redundancies would be banking jobs, with the rest in related services such as law and accounting.

Mr Woods made the comments at a House of Lords EU financial affairs committee session in Parliament today.

He said he would be "surprised" if the number of jobs lost in the short term was as high as 10,000, but said this figure was based on firms having no replacement for passporting rights and no access to a transition period at the end of March 2019.

The PRA arrived at the figure after poring over the Brexit contingency plans submitted to it by financial firms.

Mr Woods said: "I would be surprised if it ends up being more than that for banks and insurance companies.