UK finance sector sees lowest risk of turmoil since 2008
LONDON (Reuters) - Risk managers at UK-based banks, insurers and investment funds believe the chance of another financial crisis over the next three years has fallen to its lowest since 2008, a Bank of England survey showed on Monday.
Some 24 percent of the financial institutions surveyed expect a "high-impact event" to affect Britain's financial system over the next one to three years.
This is the lowest level since the survey started in 2008, and down from 43 percent when the twice-yearly poll was last conducted in October. Expectations of a crisis in the coming 12 months also dropped sharply, to 8 percent of firms.
Fears of bank funding problems or a sovereign default fell sharply, though the latter remained high on most risk managers' watch list.
Publication of the survey coincided with Co-operative Group CWSGR.UL agreeing to a plan to plug a 1.5 billion pound capital hole at its bank.
An economic downturn was the most commonly cited threat in the survey, and worries about future property price falls, cyber attacks and risks related to low interest rates rose sharply.
The central bank conducted the poll between April 22 and May 22, and received responses from 76 financial institutions.
For the full survey, see: here
(Reporting by David Milliken; Editing by John Stonestreet)
- Tweet this
- Share this
- Digg this
- Survivors still alive on South Korean ferry - father |
- Search for Malaysia Airlines jet refocuses on drone scans of seafloor
- Bloodshed in eastern Ukraine heightens fear as talks start |
- India holds biggest day of voting with Hindu nationalists gaining strength
- Hundreds still missing in deadly Korea ferry accident |