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BOE: UK Banks remain well capitalized - BOE FPC

UK

UK banks remain well capitalized, boosted by strong recent profitability, the BOE's latest financial policy summary shows, with liquidity levels current high.

  • Banks currently look well positioned to support stretched borrowers, even if economic and financial conditions worsened to a greater degree than expected.
  • Assessing the banks, the BOE FPC has decided to maintain the CCyB rate at 2%, although it stresses it will continue to monitor developments closely and stands ready to vary the CCyB in either direction.
  • The bank's 2024 stress-test will be desk-based rather than an ACS programme, although it will revert to ACS in 2025.
  • According to the FPC, the transmission pass-through to UK consumers remains at around 35%.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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