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BoE Should Factor Huge Fines Into Stress Tests, MPs Told

Law360, London (April 30, 2019, 2:23 PM BST) -- The Bank of England should broaden the way it carries out stress tests on lenders to gauge the risks they face from multimillion-pound penalties for misconduct, a senior regulatory expert told the parliamentary Treasury Committee on Tuesday.

Mark Zelmer, a former Canadian central banker, said British regulators are world leaders in the way they test the adequacy of lenders’ capital reserves. But he told lawmakers that Britain's central bank should sharpen its understanding of the threat that regulatory sanctions pose to lenders' balance sheets.

“The road has been pretty well trod in terms of looking at traditional balance sheet risks like...

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