April 26, 2018 / 8:38 AM / 25 days ago

BoE's Brazier says corporate debt bears close scrutiny

LONDON, April 26 (Reuters) - Developments in the corporate debt market need careful scrutiny to check whether banks are resilient to any price adjustments, a senior Bank of England official said on Thursday.

“It’s reassuring that easy conditions in markets have not led the corporate sector to take on an unusually high level of leverage,” Alex Brazier, BoE executive director for financial stability strategy, told a funds conference.

Corporate debt in Britain is around its long-term average level as a multiple of earnings, he said.

“Nevertheless, developments in corporate debt bear close scrutiny because we cannot take for granted that it will stay this way,” Brazier added.

Reporting by Huw Jones Editing by Gareth Jones

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