How strong are British banks?

This report from UK think tank the IEA looks at whether British banks would pass the Covid-19 stress test.

The Bank of England maintains that UK banks are strongly capitalised. The evidence from banks’ share prices and market values contradicts this claim. Banks are more fragile now than they were going into the last crisis. The Bank of England’s failure to ensure the resilience of the banking system suggests a need for radical reform that does away with the regulator.

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