Can UK Banks pass the Covid Stress Test?

With the economy undergoing the biggest downturn since 1709, it is natural to ask if UK banks are strong enough to withstand this downturn and still function normally. The mood music coming from the Bank of England has certainly been reassuring. But are UK banks really as strong as the Bank says? The answer, sadly, is no.

In this video, Professor Syed Kamall (IEA Academic and Research Director) chairs a discussion with Dr Dean Buckner and Professor Kevin Dowd, who authored a recent IEA Discussion Paper "How Strong are British Banks: and can they pass the Covid Stress Test".

In this paper, Professor Dowd and Dr Buckner argue that 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.

To read this discussion paper, follow the link here https://iea.org.uk/publications/how-strong-are-british-banks/

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