BoE FSR (Dec) : "Risks to financial stability have increased during 2025. Global risks remain elevated and material uncertainty in the global macroeconomic outlook persists"

UK Banking:

• "The UK banking system remains well capitalised. Major UK banks continue to report robust earnings, and their average price-to-tangible book (PtTB) ratios have increased further above 1 since the July FSR."


• "The Committee judges that the updated appropriate benchmark for the system-wide level of Tier 1 capital requirements is now around 13% of RWAs (equivalent to a CET1 ratio of around 11%), 1 percentage point lower than its previous benchmark of around 14%. Given the reduction in the FPC’s benchmark, banks should have greater certainty and confidence in using their capital resources to lend to UK households and businesses."

02 Dec 2025 - 07:00- Fixed Income- Source: BoE