The Bank of England today named Barclays, HSBC and Lloyds among firms that needed to strengthen preparations against failure.
It warned they must be “sufficiently flexible and able to produce timely and robust estimations of their liquidity needs in a resolution, given the speed at which events can evolve, for example due to rapid deposit outflows”.
The rapid collapse of Credit Suisse and Silicon Valley Bank (SVB) last year sent shockwaves through financial markets. Within a day of SVB’s warning that it needed a capital raise, the firm’s share price sunk 60% and as much as $40 billion, or nearly a third of its deposits, were withdrawn — with a further $100 billion on course to leave.
The UK arm of SVB was acquired in a last-minute rescue deal by HSBC, while Credit Suisse was merged with UBS.
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Denne historien er fra August 06, 2024-utgaven av Evening Standard.
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Vamos Rafa! It's time to go for Spain's brave warrior
'Shy and funny' Nadal bows out as sport's ultimate competitor
Does Angeball have a winning future at Spurs?
Head coach divides supporters with his ultra-attacking tactics
The £5bn-a-year tax timebomb that's set to devastate London hospitality
The capital will bear the brunt of Rachel Reeves’s National Insurance raid
Live like a Queen...
...in the house gifted to Anne of Cleves by Henry VIII in 1540 and now onsale for 3.75 million
At home with...Matthew Williamson
The designer’s Belsize Park flatis a grand canvas for his ever-changing colour palette
Hidden London
The first time I made my way to Maison Assouline was with a broken foot, in a tragic boot and crutches.
Jameela Jamil on why New York will always have her heart...
..and her stomach. The actor and activist shares her favourite brunch spot, a secret bar and her brownstone fantasies
My life in bespoke suits
Back in the Eighties, suits were so wide that even the shoulder pads had shoulder pads. Suits back then were boxy, square, and designed to make you look like a quarterback, a bouncer or a tank.
Cher's wild world
The singer's memoir is full of jaw-dropping tales
'I was told I could stay in the UKthen kicked out of my asylum accommodation'
As our appeal hits 1m, we turn the spotlight on an official policy that’s making newly recognised refugees homeless
