Bailey says investors ‘testing’ banks for weakness
Investors seem to be “testing out” UK banks to assess whether any have hidden weaknesses, following the collapse of Silicon Valley Bank (SVB) and Credit Suisse, Bank of England governor Andrew Bailey said today (March 28).
However, he told a parliamentary committee UK banks were better capitalised for their interest rate risk exposures than many in the US. He added UK-headquartered banks did not have the same “idiosyncrasies” as Credit Suisse, which had been unprofitable for years after a
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