Bank of England warns lenders over UK consumer debt
Britain's banks need to set aside another £10 billion ($13.5 billion, 11.3 billion euros) to cushion against potential
England - AFP
Britain's banks need to set aside another £10 billion ($13.5 billion, 11.3 billion euros) to cushion against potential consumer credit losses, the Bank of England warned Monday.
The central bank's Financial Policy Committee watchdog said the sector was "underestimating" the risks of mounting household debt, but added that climbing debt levels did not pose an immediate risk to the economy.
"Within a benign overall domestic credit environment, there is a pocket of risk in the rapid growth of consumer credit," the FPC said in statement after meeting on September 20.
"This is not a material risk to economic growth, as consumer credit represents only 11 percent of overall household debt.
"It is a risk to banks' ability to withstand severe economic downturns."
In a severe stress test scenario, the FPC estimated that banks would incur consumer credit losses or about £30 billion, or 20 percent of UK consumer credit loans, during the first three years of a very deep recession.
That is £10 billion more than the watchdog had previously outlined
Source: AFP
GMT 03:06 2017 Saturday ,16 December
Bank of England warns Brexit could cause pound to fall sharplyGMT 13:38 2017 Sunday ,10 December
Britain’s smaller banks jostle for business banking grantsGMT 02:55 2017 Sunday ,30 April
EU tightens Brexit demands on residence, banksGMT 11:09 2017 Friday ,28 April
Royal Bank of Scotland rebounds into slender Q1 profitGMT 09:03 2017 Thursday ,27 April
Lloyds bank says quarterly net profit soared 72%
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 00:11 2017 Sunday ,10 December
China vows to deepen bilateral ties with new Zimbabwe gov't
GMT 13:57 2017 Wednesday ,19 April
Deputy PM receives US ambassador
GMT 12:21 2017 Tuesday ,04 April
NHL won't participate in 2018 Olympic Games
GMT 16:18 2017 Thursday ,26 January
Berri, Mogherini tackle most recent developments
GMT 06:44 2017 Sunday ,20 August
Qatar welcomes Saudi 'political' decision to open border for hajj
GMT 00:32 2017 Wednesday ,11 October
Russian FM Lavrov holds joint press conference with his French countrepart
GMT 10:48 2017 Tuesday ,07 March
Iraqi troops resume advance in Mousl
GMT 02:23 2017 Saturday ,14 October
Britons advised not to travel to Brussels after attacks
GMT 15:11 2017 Friday ,31 March
Issa Abkar confirms stability of security situation
GMT 14:15 2017 Tuesday ,21 February
CGG Secretary-General Meets Iraqi Prime Minister
GMT 16:18 2016 Sunday ,21 February
First conference on future of retail business in cooperation with European Bank for Reconstruction and Development to kick off on March 7
GMT 18:32 2017 Wednesday ,08 February
Tourism counselor in Berlin: Meeting with German tourism
GMT 00:43 2016 Thursday ,29 December
29 former Turkish police put on trial over failed coup
GMT 22:08 2017 Saturday ,22 April
UNESCO official hails relations with UAE
GMT 10:57 2017 Saturday ,01 April
Attorney General Meets Director-General of UN Office at Geneva
GMT 02:21 2017 Tuesday ,17 October
No military solution possible in Syria: Iran's Zarif
GMT 11:01 2017 Monday ,25 September
Veolia's US growth hopes run into trouble
GMT 05:07 2017 Friday ,10 November
May expected to pick Brexit supporter to replace scandal-hit aid minister
GMT 00:42 2017 Wednesday ,11 January
Golden Globes pulls second highest audience in decade
GMT 10:57 2017 Monday ,13 February
Pregnant Beyonce emerges with New Age Grammy show
GMT 09:40 2016 Monday ,15 August
Trump lashes out at 'crooked media'
GMT 19:17 2017 Sunday ,05 March
UAE Consul General meets Canadian official
GMT 05:46 2016 Saturday ,26 November
Turkish lira languishes near record low
GMT 19:10 2017 Friday ,13 October
Tennis: Federer, Nadal feast in 'China's most exclusive restaurant'
GMT 22:49 2016 Tuesday ,03 May
ASEAN,partner countries officially launch joint maritime exercise in BruneiGMT 19:01 2013 Tuesday ,12 March
Bahrain ministry of housing signs a MoU for cooperation with the BIPA
GMT 15:46 2017 Saturday ,11 February
4 Spanish soldiers injured as mortar bomb explodes
GMT 19:35 2018 Thursday ,18 January
President of Mauritania visits headquarters of Al Dahra Agricultural Company
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor