The market is testing banks for weaknesses, but we are on high alert.

This was stated by the governor of the "Bank of England" (Bank of England), Andrew Bailey, during a hearing in the Committee on Financial Affairs in the British Parliament, CBS reported. 

The hearing is related to the turmoil in the banking sector in the US and Europe, which led to the bankruptcy of several credit institutions and the restructuring of others, and on Friday, Deutsche Bank (deutsche Bank) sparked fresh fears after its shares fell sharply , although the situation seems under control at the moment.

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Bailey also pointed out that the US authorities are dealing with specific problems related to regional banks, and in Switzerland, Credit Suisse was an individual problem.

However, he reiterated that the UK banking system is "in a strong position, being well capitalized and having liquidity.

"I think what we saw at the end of last week and in particular on Friday, when there were quite sharp market movements, was to test some institutions," Bailey told British MPs.

"I don't think it's because of identified weaknesses, but more of a 'feeling of the soil'. I mean, there's a lot of testing going on right now," Bailey added.

He noted that "at the moment markets are trying to find weak points", noting that he does not think the situation resembles that of 2007/2008, when the last major financial crisis began.

"We're in a much different place now than we were then, but we have to be very vigilant," Bailey said when asked if the banking system was sound.