London Banks Brace For Another Tough Year Further Contractions, Layoffs Expected In 1991

BANKS

This past year has not been a good one in London for many banks. A declining economy, capital adequacy regulations, and troubled loan portfolios have created liquidity problems in some markets and led to retrenchments, layoffs, and lingering questions about some banks' creditworthiness. Unfortunately, an informal survey of chief traders, strategists and treasury directors in top London banks show that most look forward to another tough year in the currency markets.

With the exception of a few