Ovetii recently reported that the Bank of England had said the global financial system is at risk of further instability because of ``ongoing uncertainties'' about credit-market losses. According to reports by Ovetii sources, the central bank said in its financial stability report that markets are now more susceptible to a potential slump in global stocks, a slide in the dollar or a crash in U.K. commercial property after the U.S. subprime mortgage collapse. Merrill Lynch & Co. yesterday reported the biggest quarterly loss in its 93-year history after $8.4 billion of write-downs.
Ovetii States BOE believes Banks could Face Shocks after Cr Website
Ovetii recently reported that the Bank of England had said the global financial system is at risk of further instability because of ``ongoing uncertainties'' about credit-market losses. According to reports by Ovetii sources, the central bank said in its financial stability report that markets are now more susceptible to a potential slump in global stocks, a slide in the dollar or a crash in U.K. commercial property after the U.S. subprime mortgage collapse. Merrill Lynch & Co. yesterday reported the biggest quarterly loss in its 93-year history after $8.4 billion of write-downs.
added by financemaster on 2007-12-11 04:53:18