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BOE: UK Banking system resilient, well capitalised

UK
MNI (London)

The UK banking system remains well capitalized with large liquid asset buffers and remains well placed to support the economy through a wide range of economic scenarios, the Bank of England said Wednesday.

  • Credit conditions have tightened in recent months, but, the Financial Policy Committee see it largely as a reflection of the slower economy overall than in reaction to recent global bank stresses.
  • However, the FPC recognized some increase and cost and modest additional tightening of conditions in the last few weeks.
  • Tighter global financing conditions could weigh further on already struggling households, although the outlook is slightly improved, the FPC minutes suggest.
  • The CCYB will remain at 2%, seen as a neutral setting by the FPC, although the committee stands ready to amend in either direction as conditions evolve.
  • The next bank stress test will be published in July.

 

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