Risk of turmoil in the financial sector 'at its lowest since 2008'

18 June 2013

Risk managers working in UK-based banks, insurers and investment funds say the chance of another financial crisis over the next three years has dropped to its lowest level since 2008, according to a Bank of England survey.

However, 24 per cent of the financial institutions surveyed expect a "high-impact event" to affect the UK's financial system over the next three years, Reuters reports.

The poll, which is conducted twice a year, found those who thought a new crisis would happen was down 43 per cent. This is the lowest level since the survey started in 2008.

Expectations of a crisis happening in the next 12 months also dropped sharply, to just eight per cent of firms.

The most commonly cited threat in the survey was an economic downturn, and concerns surrounding future property price falls, cyber attacks and risks related to low interest rates rose sharply.

By Asim Shah

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development