If China’s economy craters, the UK’s banks are on the hook

[suityou01]

After this thread ScooterScot is SASGuru's bitch

[scooterscot]

All the money was lent via the Scottish arm of the banks. In a few months England's trouble will be over.

London has always being Scotland's bitch.

[BrilloPad]

All the money was lent via the Scottish arm of the banks. In a few months England's trouble will be over.

[scooterscot]

Plus we can always print our way out of trouble... and if that doesn't work I think we have a company that print most other world currencies

Not long until a packet of digestives costs £24

[scooterscot]

In the event of financial disaster we could always flog Scotland on Ebay I guess?

Scotland is nobodies bitch.

[Flashman]

In the event of financial disaster we could always flog Scotland on Ebay I guess?

[CheeseSlice]

Plus we can always print our way out of trouble... and if that doesn't work I think we have a company that print most other world currencies

[CheeseSlice]

But, but.. the stress tests!?

[xoggoth]

Africa's economy will get a huge setback too but on the plus side the elephants and rhinos might be a bit safer.

[tomtomagain]

Well it's not really a surprise given that the city is the worlds leading financial centre.

The UK financial institutions are on the hook for a lot of lending. That's why they are the worlds leading financial centre.

[scooterscot]

Had not realised the UK was so exposed to China's debt.

http://qz.com/192273/if-chinas-econo...k/#/h/56751,2/

As concerns mount about the health of China’s economy, and particularly the possibility of a property bubble bursting and a sharp rise in bad loans, who is going to be left holding bad debt has become a looming question.
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While China’s own state-run banks provide much of the liquidity for the country’s businesses, foreign banks have stepped up lending to China as well in recent years. They now have over $1 trillion in loans outstanding to China’s public and private companies, according to data from Switzerland’s Bank for International Settlements (BIS), which advises central banks. Of these, Hong Kong’s banks remain the most exposed to China, as Quartz recently reported, with about $446 billion (Table 3.11.3) in loans outstanding to Chinese companies and banks as of this month.
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After Hong Kong, the UK takes the lead by far. (As a note, banks in several countries, particularly in emerging markets like Russia or Latin America, aren’t listed, because they don’t report to the Bank for International Settlements):