The Bank of England (BoE) has published the results of its systemic risk survey for the first half of 2014, which was carried out between 7 April and 12 May 2014. The survey consisted of 72 market participants including hedge funds, banks, building societies, large foreign banks and insurers and encompasses their views on risks to, and their confidence in, the UK financial system. The following are some of the main findings the survey touched upon:

  • the perceived probability of a high-impact event and confidence in the UK financial system. 64% of respondents now consider the probability of a high-impact event low or very low over the next year;
  • key risks to the UK financial system. There was less consensus on the main risk to the UK financial system than in the previous survey. The main risk to the UK financial system identified was from an economic downturn, with concerns about sovereign risk dropping sharply; and
  • the risks most challenging to manage as a firm. Geopolitical risk was widely cited as the most challenging risk to manage.

The BoE intends to publish the results of its next survey on 1 December 2014.

View Systemic risk survey: survey results – 2014 H1, 9 June 2014

View Bank of England systemic risk survey – 2014 H1, 9 June 2014