Britain badly prepared for market crash, says...>

BOE: Britain badly prepared for market crash, says Andrew Bailey (The Times)

- The incoming Bank of England governor has admitted that he is concerned about

how ill-prepared the UK is for a prolonged fall in the stock market or house

prices. Andrew Bailey, chief executive of the Financial Conduct Authority, the

City regulator, said that increased exposure to asset values had been

accompanied by declining understanding of the fallout from a decline in prices,

saying that the issue was "one of the things that worries me most". Mr Bailey

added: "There hasn't been a major fall in asset prices now since the [global

financial] crisis and of course, we don't want one to happen, but they do

happen. I do think that there is not as great an understanding of what the

consequences of that could be."

- Link: https://tinyurl.com/uf8d7v6