Confidence In UK Financial System Improves: BoE

(RTTNews) - Confidence in the U.K. financial system improved in the second half of 2013, results of the Systemic Risk survey from the Bank of England showed Monday.

A net balance of 28 percent said confidence increased over the past six months. The survey was carried out between September 23 and October 24.

According to the survey, sovereign risk poses the biggest risk to the financial system. About 74 percent cited sovereign risk as the major source of risk, which was followed by a risk of an economic downturn, with 67 percent balance.

However, concerns over sovereign risk have dropped back further to the lowest point since the second half of 2011. Likewise, worries about the risk of an economic downturn are down significantly since the previous survey.