Confidence plummets in UK financial system
Bank of England (BoE) delivers worrying results from its Systemic Risk Survey.
The Bank of England’s (BoE) Systemic Risk Survey has revealed that confidence in the stability of the UK financial system, as a whole over the next three years, has plummeted to its lowest level since the second quarter in 2009, after only 28% of respondents state that they are “not very confident.”
The comprehensive survey consisted of risk managers at 68 financial institutions — comprising of:
Interestingly, in comparison to the top key risks reported most frequently by respondents to have the greatest impact on the UK financial system, only 26% felt that the risk of financial institution failure/distress would have the "greatest impact"
While it is rather predictable that 'sovereign risk' and an 'economic downturn' would top the bill, funding risk is certainly a major concern for the financial system.
Check out Euromoney's latest in-depth articles on this subject: