Commenting on expectations of lower capital requirements as a result of the Bank of England’s stress testing, Fran Boait, executive director of Positive Money said:
“Ten years on from the global financial crisis we risk mistakes being repeated, as the Bank of England faces pressure to roll back capital requirements so that banks can pay out more profits to their shareholders.
“Raising capital requirements was a key element of the central bank’s efforts to increase financial stability after the last crisis. Backsliding on such regulations is the last thing the Bank of England should be doing in the face of uncertainty from Brexit and growing risks across the global economy.”
About Positive Money
Positive Money campaigns for a money and banking system which supports a fair, democratic and sustainable economy. Set up in the aftermath of the financial crisis, Positive Money is a not-for-profit company funded by charitable trusts and foundations, as well as small donations from its network of over 65,000 supporters.
