Bank of England to review how it stress tests banks
© Reuters. FILE PHOTO: Buildings in the city financial district are seen through fog from Canary Wharf in London, Britain, February 8, 2023. REUTERS/Kevin Coombs/File Photo
Banks continue to have the ability to support households and businesses as they face a cost of living crisis and rising interest rates, the Bank said. Stress tests were introduced after the global financial crisis of 2008 to help plug capital gaps, but in recent years, all banks have fared well, making them more of a tool to check for hidden vulnerabilities rather than determinant for capital levels.
The BoE left its so-called countercyclical capital buffer, built up during steadier times for release in times of stress, at 2%, although some FPC members suggested a case for raising it.
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