“No Stress II: the flaws in the Bank of England’s stress testing programme”, challenges the stress tests carried out by the Bank of England to assess the financial resilience of UK banks, and refutes their claim that major UK banks could withstand another big shock.
The report's release comes as Europe faces a renewed banking crisis. There is already a major crisis in Italy and mounting concerns about Deutsche Bank, the biggest bank in Europe and recently described by the International Monetary Fund as the most systemically dangerous bank in the world.
Read the paper online here.