BANK of England director Alex Brazier visited Scotland yesterday to canvas views on what can be done to increase confidence in the stability of the financial system.
Mr Brazier, who is executive director for financial stability and risk at the bank, met representatives from a range of financial institutions and businesses in Glasgow and Edinburgh.
“The Bank of England has been tasked with making sure the UK’s financial system is safe and prepared for whatever circumstances it might face,” said Mr Brazier.
“I’m visiting Scotland to explain what we do and to listen to the views of Scotland’s business community, universities and charities about what they think needs to be done to build a financial system in which everyone can have confidence. “
The bank concluded last month that the seven lenders it regards as key to the financial system have strong enough balance sheets to cope with a more severe financial crisis than the one seen in 2008.
The group of major lenders includes Royal Bank of Scotland, which came close to collapse in 2008, and Lloyds Banking Group which completed a rescue takeover of the former Halifax Bank of Scotland that year.
None of the groups needed to raise capital as a result of the latest stress test, for the first time since the Bank of England launched the exercise in 2014.
Mr Brazier took up the financial stability post in March 2015 after working as principal private secretary to the Governor of the bank from 2011.
He joined the bank as an economist in 2001.
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