Bank of England believe confidence in the banking system has improved


The Bank of England (BoE) has indicated that the measures previously introduced in October have helped underpin confidence in the banking system.

The BoE believe its actions have helped to increase bank's ability to withstand future losses and lowered the perceived risk.

All banks will need to adjust their balance sheets and make crucial strategic decisions in the way it runs during what is proving to be a difficult year for the financial sector.

Even though there are talks of Britain being in or heading into "Recession" the banks are now in a much better position to be able to deal with this than they were a few months ago.

Lyndon Campbell, Head of Conveyancing at Simpson Millar LLP comments: "It is encouraging to see that levels of confidence are being restored in the banking sector and it shows great strength and determination by the authorities to do whatever it takes to provide a more stable platform for the UK financial sector."

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