BoE’s Kashyap Says Worried About Spillover from EU Banking Woes

A Bank of England policymaker charged with overseeing the banking sector said he had big concerns about the risk of British banks being hurt by trouble among their peers elsewhere in the European Union.

Anil Kashyap, a newly appointed member of the BoE’s Financial Policy Committee, made the comments in a submission to a British parliamentary committee.

“I am particularly worried about contagion from stress coming from the European banks and whether there might be linkages — perhaps indirect — between them and the largest UK banks,” Kashyap wrote.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.