DBRS Morningstar has released a commentary discussing the results of the latest stress test on the large UK banks published by the Bank of England (BoE). • This is the first cyclical scenario carried out by the BoE since 2019. We note that overall the 2022/23 stress test assumptions are broadly similar to the 2019 exercise and the Global Financial Crisis although generally tougher than current macroeconomic conditions. • The large UK banks demonstrated resilient results with all banks report...
DBRS Morningstar has released a commentary focusing on the increased uncertainty faced by UK banks and borrowers in terms of mortgage lending. Key points include: • The UK mortgage market suffered some disruption after the UK government’s mini budget on September 23, which is expected to lead to higher policy interest rates, led to a number of lenders temporarily withdrawing some mortgage rate products. • A significant part of the UK mortgage market is set to refinance within the comi...
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