-
BOE Unveils Stress Test Plan for Dozens of Banks, Asset Managers
The UK’s largest banks and asset managers will be tested against a hypothetical shock worse than last year’s gilt market spiral, in a Bank of England exercise to see how non-bank financial institutions can amplify systemic stress. More than 50 financial market participants, including banks, insurers, asset managers, hedge funds, and pension funds, are involved in the central bank’s first system-wide exploratory scenario exercise, according to a statement. Participants have been supplied with details of a severe, but plausible, stress scenario. “This is faster, wider ranging, and more persistent than those ... (full story)