Published by the Financial Policy Committee, includes the stress test results of UK banks
- Banks pass stress tests based on current balance sheets
- Investors may be underpricing risks in global markets
- Banks could keep lending even through disorderly Brexit
- Risks to UK from global debt levels, asset valuations and financial misconduct remain material
- UK vulnerable to reduced foreign investor appetite for UK assets
- Apart from Brexit, domestic risks to UK financial system are at a standard level
- Will only set out policy on approving EU banks to operate in the UK after Brexit by end of this year
Full report on the release can be found here.
Cable is taking a hit lower right now after a spike up close to 1.3360 earlier in the session. Currently trading at 1.3321 after hitting session lows of 1.3311 after the report was released.
