Bank of England’s verdict on whether lenders are equipped to deal with economic shocks due to be revealed
The Bank of England will today publish results of stress tests that examine how prepared lenders are for unexpected economic shocks.
It started conducting the tests in the wake of the 2008 financial crash, when the banking system came close to collapse.
Its latest update will judge whether banks could carry on lending to customers even if there was another crisis.
The Bank of England’s latest update will judge whether banks could carry on lending to customers even if there was another crisis
Last year the tests found they would be able to withstand a No Deal Brexit and still continue operating normally.
Russ Mould, investment director of AJ Bell, said: ‘All seven lenders scrutinised in 2018 passed the stress tests and Barclays, HSBC, Lloyds, RBS and Standard Chartered, as well as Santander and the Nationwide Building Society, will be looking to prove their resilience again this year.’