‘Fatally flawed’ Bank of England stress tests peddle myth of financial security – report

‘Bank of England (BoE) stress tests of Britain’s banking sector are “fatally flawed” and peddle the myth that the financial system is secure, a report by the Adam Smith Institute says.

The report, published Thursday, was authored by Professor of Finance and Economics at Durham University Kevin Dowd. It calls for the yearly tests to be scrapped and warns that they hide serious weaknesses in a vulnerable UK banking system.’

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