The departing head of the European Banking Authority has issued a warning over the state of the EU’s so-called stress tests, which are meant to show whether banks have sufficient capital to weather bad news. Andrea Enria, who’ll shortly become head of the supervisory arm of the European Central Bank (ECB), is right that the system needs reforming, but his ...

Markets hate uncertainty, and Brexit has it in spades. Leaving the European Union (EU) seems to present the UK with an unappealing choice of either a lot of economic harm via crashing out without a deal, or slightly less damage via Theresa May’s withdrawal agreement. But there are reasons why investors might start thinking about more blue-sky scenarios: Either a ...

Dismantling the opaque underbelly of China’s financial system is proving far tougher than Beijing could have imagined. After rolling out a stream of reactive regulatory measures over the past year, authorities are now preparing to effectively phase out the $176 billion peer-to-peer lending market, Bloomberg News reports. Small and medium-size P2P platforms will be wound down, while large ones will ...