UK banks insulated from wider troubles, BoE says

Bank of England
Bank of England
Photo: Juno Snowdon Photography

The Bank of England said UK banks have been little impacted by the collapse of Silicon Valley Bank (SVB) and Credit Suisse, after a meeting of its financial policy committee.

The FPC chose to keep the UK’s counter-cyclical capital buffer unchanged at 2%, the record of the committee’s latest meeting said today (March 29).

Policy-makers said they had been “closely monitoring” events in banking sectors overseas, but judged that there would be limited spillovers to the UK. An exception was the

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