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Toughest yet to come in pandemic fallout for banks, says BoE's Woods

· 02/05/2021 07:02
Toughest yet to come in pandemic fallout for banks, says BoE's Woods

- Banks in Britain have been shielded from the worst effects of the COVID-19 pandemic by government relief measures and the toughest time has yet to come, Bank of England Deputy Governor Sam Woods said on Friday.

Government relief schemes such as furlough payments and guarantees on loans from banks to companies, are being wound down in coming months.

"We feel good about what's happened so far but in a way the tougher bit is coming," Woods told a London School of Economics webinar. "The government has pushed out a lot of stress in time, but some will still come through."


(Reporting by Huw Jones; Editing by Toby Chopra)

((huw.jones@thomsonreuters.com; +44 207 542 3326; Reuters Messaging: huw.jones.thomsonreuters.com@reuters.net))