UK banking jobs said to be resilient to substantial shocks

People in UK banking jobs may be interested in the outcome of the recent stress tests of European financial institutions.

However, one economist suggests that the testing did not employ a worst-case scenario - and was not tailored to focus on UK banks.

"I don't think the emphasis was on the UK really," says Alan Clarke, UK economist at financial services provider BNP Paribas.

But he adds that "UK banks are able to withstand a reasonable-sized shock", which may reassure people already in or seeking banking jobs within the sector.

Mr Clarke adds that a positive outcome that might emerge from the stress tests - which the continent's banks passed - could be an improvement in confidence.

If this occurs in the single-currency eurozone, he argues that trade may gain as a result.

The impact this could have on business banking remains to be seen, as Mr Clarke also concedes that, with house prices down, financial institutions are unlikely to want to increase their lending to companies too soon.

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Updated: 30 July 2010.
Categories: banking-and-financial-services, market-and-industry-news.