The Bank of England's stress tests published on Wednesday revealed the UK's seven major lenders are ready to withstand both the fallout from Brexit and a more pronounced global recession.
British banks can breathe a sigh of relief after the publication of the Bank's stress tests results yesterday (28 November), having proven they can continue lending to the public even in the event of a major global downturn. In the Financial Stability Report, the Financial Policy Committee (FPC) headed up by Governor Mark Carney, said: "The UK economic scenario in the 2018 stress test of major UK banks was sufficiently severe to encompass the economic shock in the disorderly Brexit scenario. "Based on this, the FPC judges that the UK banking system is strong enough to continue to serv...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
