While the Bank said the UK’s banking sector was well-placed to cope with a severe downturn, it said banks must increase the amount of money they set aside to absorb shocks. Starting a year from now, banks will be required to set aside a sum equal to 2% of their assets as a buffer, as opposed to the normal 1%.
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OECD: Lockdowns here to stay, even with vaccine plan
admin, , Business, 0
“Once we’re out of the crisis, the economic fabric would have been preserved thanks to these measures, then we...
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Budget: Rishi Sunak promises help as Covid restrictions ease
admin, , Business, 0
Speaking to Sophy Ridge, she said Labour would “look carefully” at proposals on corporation tax but added: “What we...
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Topshop owner Arcadia on brink of collapse
admin, , Business, 0
Topshop owner in talks to secure £30m lifeline
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British Airways sells off bowls to bedding as it shifts surplus stock
admin, , Business, 0
And while the event is not quite a sell-off of the family silver, the airline is getting rid of...
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Vauxhall to build electric vans at Ellesmere Port
admin, , Business, 0
Carlos Tavares, head of Stellantis, previously warned that the company would no longer invest in pure diesel or petrol...
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House prices still rising but demand set to cool
admin, , Business, 0
“Raising a deposit is likely to remain the primary obstacle for many. The impact on property prices may also...
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Business leaders set out plan for Covid recovery
admin, , Business, 0
A statement from the business department said: “Our Plan for Growth will deliver significant public investment in the infrastructure,...
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Nissan to lead £2bn investment in UK electric car plant
admin, , Business, 0
Lei Zhang, chairman of AESC, said the firm had launched a feasibility study on expanding its gigafactory operations in...
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