Big banks in Britain are preparing for any future escalation of Western sanctions on China and have shared their “scenario planning” with the British and U.S. governments

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via reuters:

  • Banking industry is assessing China exposures
  • Review of risks sent to Western governments – UK Finance
  • Bank boards discuss possible impact of any China curbs – bankers
  • Lawyers receive surge in calls for mitigation advice
  • West-China tensions have put banks on alert
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LONDON, Oct 13 (Reuters) – Big banks in Britain are preparing for any future escalation of Western sanctions on China and have shared their “scenario planning” with the British and U.S. governments, a senior banking official has told Reuters.

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The project involves sharing lessons learned from other sanctions frameworks, including those on Russia, and discussions about the effect any measures imposed on China might have, Neil Whiley, director of sanctions at lobby group UK Finance, said.

 

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