Bank of England and the banks say: we are here to help through the outbreak

LONDON (Reuters) - Britain's banks are in a 'strong position' to further support an economy that will rebound from the coronavirus epidemic, the Bank of England and leading UK lenders said in a joint statement on Monday. 'Your banks are rapidly getting systems in place so if you need support, we are here to help,' BoE Governor Andrew Bailey and chairs of Lloyds, Natwest, Barclays, Virgin Money, HSBC, Santander and industry body UK Finance said. 'This is an unprecedented situation, but it will pass and the economy will rebound

Reuters March 24, 2020 00:09:07 IST
Bank of England and the banks say: we are here to help through the outbreak

Bank of England and the banks say we are here to help through the outbreak

LONDON (Reuters) - Britain's banks are in a "strong position" to further support an economy that will rebound from the coronavirus epidemic, the Bank of England and leading UK lenders said in a joint statement on Monday.

"Your banks are rapidly getting systems in place so if you need support, we are here to help," BoE Governor Andrew Bailey and chairs of Lloyds, Natwest, Barclays, Virgin Money, HSBC, Santander and industry body UK Finance said.

"This is an unprecedented situation, but it will pass and the economy will rebound. The Bank of England and the major banks are here to help businesses and households bridge through this difficult period and keep financial hardship to a minimum."

(Reporting by Huw Jones; editing by Guy Faulconbridge)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

also read

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes
India

Pulitzer Prize-winning photojournalist Danish Siddiqui killed in Afghanistan: Politicans, journalists pay tributes

The Pulitzer prize winner, who was in Kandahar covering operations against Taliban, was killed when he was riding along with the Afghan Special Forces

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province
India

Indian photojournalist Danish Siddiqui killed during assignment in Afghanistan's Kandahar province

Siddiqui had also covered the 2020 Delhi riots, COVID-19 pandemic, Nepal earthquake in 2015 and the protests in Hong Kong

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth
India

Danish Siddiqui's passing is a reminder of the high price one pays for showing the truth

Danish's photographs were not just documentation, but the work of someone who went down to eye-level, as they say in photographic parlance.