Britain's eight largest lenders have enough capital to ride out economic stress deeper than the 2008 financial crisis, the Bank of England (BoE) said on Wednesday, as the sector faces sharply rising interest rates pummelling consumers and businesses.
checked if banks were holding enough capital to cope with theoretical shocks under a scenario which the BoE said was more severe than the global financial turmoil of 2008 when British taxpayers had to bail out several lenders.The eight banks account for 75% of lending in Britain.
"Major UK banks’ capital and liquidity positions remain robust and profitability has increased, which enables them both to improve their capital positions and to support their customers." Barclays and Lloyds shares were up around 1.5% at 0708 GMT, while NatWest, HSBC and Standard Chartered made smaller gains.
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