No Stress: The flaws in the Bank of England’s stress testing programme

In 2014, the Bank of England commenced a stress testing programme in an effort to test the capital adequacy of major UK-based banks. It concluded that its results demonstrated the resilience of the banking system. No Stress, a report from the Adam Smith Institute, suggests that we should be extremely sceptical of the Bank’s conclusions. […]

Quids In: How sterlingization and free banking could help Scotland flourish

An independent Scotland using the pound outside of a currency union would have a more stable financial system and economy than it has now or than a currency union could provide, argues Sam Bowman. ‘Adaptive sterlingization’ – a combined policy of unilateral use of GBP without a formal currency union and reform of Scottish banking regulations […]