Central bank restricts 'stress tests' to largest UK retail banks
London
BRITAIN'S smaller lenders and British units of foreign investment banks will escape the Bank of England's annual "stress tests" of their resilience to financial shocks, the central bank said on Wednesday.
The BoE said it preferred to maintain its focus on major banks which account for 80 per cent of lending to Britain's economy, but left the door open to broaden the scope of its annual probes to include non-bank firms such as asset managers. "The United Kingdom needs banks that can weather shocks without cutting lending to the real economy," BoE governor Mark Carney said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japan frets over relentless yen slide as BOJ keeps ultra-low rates
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Five new charges for money laundering accused Zhang Ruijin before his plead guilty mention
Bank of Japan keeps rates steady, projects inflation staying near 2% in coming years
Weak yen pressures Bank of Japan’s interest rate decision
Basel Committee adds climate risks to banking supervision standards