BoE turns attention to contagion from emerging markets

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Mark Carney, Bank of England

The Bank of England (BoE) has flagged risks emanating from emerging markets, which many UK banks have sizeable exposures to.

A redesigned financial stability report, published today (July 1), contains a number of new areas of focus, including risks from international interlinkages, the heavy burden that misconduct fines are imposing on banks, and risks relating to cyber security, which some firms are struggling to fully engage with.

Some of the greatest risks facing the UK financial system stem

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