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UK banks vulnerable to global shock, economist warns

Discussion in 'Market News' started by Lily, Feb 14, 2016.

  1. Lily

    Lily Forum Member

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    Sir John Vickers says UK banks are still at risk, as Beijing prepared to spend billions propping up Shanghai market and fears returned of new banking crash

    Britain’s banks are vulnerable to a global financial shock despite efforts to shore up their finances, according to the official who led the inquiry into the safety of UK banks following the 2008 crash.

    Sir John Vickers, who led the Independent Commission on Banking (ICB) said: “The Bank of England proposal is less strong than what the ICB recommended.”

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