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SystemicRiskReferences3
| Reference | Title | Link |
| Bank of England (2008c) | Financial Stability Report, October 2008 | here |
Executive summary (start)
"In recent weeks, the global financial system has undergone a period of exceptional instability. This instability was rooted in weaknesses within the financial system that developed during an extended global credit boom: rapid balance sheet expansion; the creation of assets whose liquidity and credit quality were uncertain in less benign conditions; and fragilities in funding structures. While these weaknesses had been identified, including by the Bank in previous Reports, few predicted that they would lead to such dislocation in the global financial system." |
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