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- Title
Financial system risks in the United Kingdom -- issues and challenges.
- Abstract
In this speech, Sir John Gieve, Deputy Governor responsible for financial stability, explains the Bank's role in financial stability, identifies some of the key sources of vulnerability in the financial system, and highlights actions that firms and authorities are taking to guard against these risks. The speech notes that fierce competition to establish positions in new markets is shifting the key financial firms up the risk spectrum. A key theme of the speech is that although changes to the structure of the financial system over recent years may have made it more efficient at sharing risk, these same changes may also have made the system more efficient at transmitting shocks. It is therefore possible that we are moving into a world of less frequent but higher impact crises.
- Subjects
SPEECHES, addresses, etc.; GIEVE, John; BANKING industry &; economics; BANKING industry; FINANCIAL institutions; FINANCIAL crises; ECONOMIC conditions in Great Britain
- Publication
Bank of England Quarterly Bulletin, 2006, Vol 46, Issue 3, p337
- ISSN
0005-5166
- Publication type
Article