World News

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)