Bloomberg News

Haldane Says U.K. Bank Strength Has Grown Compared With Europe

June 11, 2012

Bank of England official Andrew Haldane said the strength of U.K. banks has improved compared with their counterparts in Europe, The Scotsman newspaper reported, citing an interview published on its website.

British lenders are in a “relatively better position,’’ and the U.K. has “strengthened our sea walls on capital and liquidity,” he said.

“But if no-one puts risk on the table, then there’s too little risk-taking, which is exactly where we are at the moment,” he said.

Haldane also said that it’s a concern that there have been no new banks created in the last hundred years.

“We’ve had a bit of entry since then,’’ he said. “Looking around I see Virgin Money, Sainsbury’s and Tesco with headquarters in Edinburgh and that’s terrific.”

To contact the reporter on this story: Jennifer Ryan in London at

To contact the editor responsible for this story: Fergal O’Brien at

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