Tuesday, December 1, 2020

Tag: “Bigger Systemic Risk” Now Than 2008 – Bank of England

“Bigger Systemic Risk” Now Than 2008 – Bank of England

by Mark O’Byrne, Gold Core:
– Bank of England warn that “bigger systemic risk” now than in 2008
– BOE, Prudential Regulation Authority (PRA) concerns re financial system
– Banks accused of “balance sheet trickery” -undermining spirit of post-08 rules
– EU & UK corporate bond markets may be bigger source of instability than ’08
– Credit card debt and car loan surge could cause another financial crisis
– PRA warn banks returning to similar practices to those that sparked 08 crisis
– ‘Conscious that corporate memories can be shed surprisingly fast’ warns PRA Chair