The UK Treasury painted a downbeat picture for the UK economy in the event of a no-Brexit deal but was surpassed by an even more pessimistic prognosis from the Bank of England. Still, all major UK banks passed the latest annual stress tests assuming a worst case scenario, highlighting significantly enhanced capital positions.
Italy’s banking sector problems, building financial risks facing the UK and the prospect of higher rates in the US. The year may be drawing to a close but there will be plenty to keep minds focused in 2017. Continue reading