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UK banks' safety, soundness at risk if negative rates introduced too quickly, BOE says

By Fiona Maxwell ( February 4, 2021, 13:16 GMT | Insight) -- UK banks will be required to make operational changes to prepare for the possibility of the BOE implementing a negative interest rate. Although policymakers haven't committed to using the tool, the central bank's talks with lenders showed that if they aren't given at least six months to prepare for the change, they could experience serious disruption.UK lenders would experience “increased operational risks” if the Bank of England implemented a negative interest rate over a timeframe shorter than six months, minutes from the central bank showed....

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