'The global economic outlook has deteriorated markedly. Global financial conditions as a whole have tightened significantly,' says Bank of England Governor Andrew Bailey.
than other Western economies, which are all grappling with global energy and commodity market shocks.
“The global economic outlook has deteriorated markedly. Global financial conditions as a whole have tightened significantly,” BoE Governor Andrew Bailey told a news conference after the central bank published its half-yearly Financial Stability Report .British banks were well-placed to weather even a severe economic downturn, the central bank said, although it said their capital ratios – while still strong – were expected to decline slightly in the coming quarters.
Members of the Financial Policy Committee confirmed that the BoE will double the countercyclical capital buffer rate to 2% of risk weighted assets in July next year, and said it could vary the rate in either direction depending on how the global economy pans out. The rate represents an extra buffer for banks such as HSBC, Barclays, Lloyds Banking Group, and NatWest that varies depending on the economic outlook.
Increasing the buffer to 2% means banks will need an additional 11 billion pounds of capital, the BoE said.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Metrobank is the Best Domestic Private Bank in the country - BusinessWorld OnlineSpotlight | Metropolitan Bank & Trust Co. (Metrobank) was recognized as the 2022 Best Domestic Private Bank in the Philippines by Asiamoney. Read:
Baca lebih lajut »
Australian central bank boosts rate for third month in a row |CANBERRA, Australia—Australia’s central bank on Tuesday lifted its benchmark interest rate for a third time in consecutive months, changing the cash rate to 1.35 percent from 0.85 percent. The Reserve Bank of Australia’s half a percentage point rise was the same size as its June increase. When the bank lifted…
Baca lebih lajut »
Metrobank is the Best Domestic Private Bank in the country - BusinessWorld OnlineSpotlight | Metropolitan Bank & Trust Co. (Metrobank) was recognized as the 2022 Best Domestic Private Bank in the Philippines by Asiamoney. Read:
Baca lebih lajut »
Peza backs veto, but can accept Bulacan ecozone application | Andrea E. San JuanTHE Philippine Economic Zone Authority (PEZA) said on Monday it supports the veto of House Bill (HB) 7575 creating the Bulacan Airport City Special Economic Zone. “It is a wise decision of President BBM, because while there are two ways of declaring ecozones, first by legislation, the second one—by way…
Baca lebih lajut »
Investors brace for pivotal July after dismal first half - BusinessWorld OnlineNEW YORK – The U.S. stock market is reeling from its worst first half of any year since 1970, with investors girding for a series of potential flashpoints in July that may set Wall Street’s course for the coming months. Second-quarter corporate earnings, hotly anticipated U.S. inflation data and the Federal Reserve’s monetary policy meeting are among potentially pivotal events after the S&P 500 fell 20.6% in the initial six […]
Baca lebih lajut »
Stagflation unlikely in Philippines, but brace for rising povertySocioeconomic Planning Secretary Arsenio Balisacan says implementing targeted subsidies and fast-tracking the national ID program will help the poor.
Baca lebih lajut »