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UK banks could benefit from government-backed emergency loans, BOE chief economist says

By Fiona Maxwell ( April 20, 2020, 10:47 GMT | Insight) -- UK banks could be relieved from undertaking credit assessments for the influx of loans resulting from the Covid-19 crisis if the government extended its emergency facility to fully guarantee that funding, the Bank of England’s chief economist said today. While it's ultimately a decision for the government whether to extend CBILS to offer a 100 percent taxpayer-backed loan, it's a move “certainly worth reflecting on,” said Andy Haldane.UK banks could be relieved from undertaking credit assessments for the influx of loans resulting from the Covid-19 crisis if the government extended its emergency facility to fully guarantee that funding, the Bank of England’s chief economist said today....

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