Bank of England warns banks of risk of sharp global interest rate rise
LONDON | Wed Jun 26, 2013 10:41am BST
(Reuters) - The Bank of England warned banks and borrowers on Wednesday about risks from a potential abrupt rise in global interest rates, and said banks might need to further bolster their capital cushions to protect against this.
The past week has seen a sharp rise in global bond yields since U.S. Federal Reserve Chairman Ben Bernanke said that the U.S. central bank may scale back bond purchases later this year.