News Snapshot:
The BoE said that “many of the vulnerabilities which had crystallised during previous stress episodes, such as the ‘dash for cash’ in March 2020, remain largely unaddressed and could amplify further sharp adjustments in asset prices”. Financial markets “remain focused” on whether these risks might materialise, and investor risk appetite had fallen sharply. Central banks such as the BoE have been at pains to emphasise that the financial services firms they regulate are unlikely to find themselves in the same position as Silicon Valley Bank or Credit Suisse, both of which collapsed in recent weeks after coming under interest-rate or...
