United Kingdom Economy
FSA indicates plausible scenario to assume property prices fall by 40 per cent and that 35 per cent of mortgages in default.
Nothing like doing a bit of planning. The Financial Services Authority in the UK is suggesting some financial institutions are complacent and not adequately modeling risks. It suggests an “appropriate” benchmark was to assume property prices fell by 40 per cent and that 35 per cent of mortgages in default …