E-Paper
UK PM Sunak trusts UK Banking system safe despite Credit Suisse collapse
“We do believe we have a robust system, a strong system,” Prime Minister Rishi Sunak’s official spokesman Max Blain told reporters on Monday.
Published on: Mar 20, 2023, 18:17:48 IST
Share via
Copy link
Prime Minister Rishi Sunak believes the UK’s banking system remains safe from contagion in the wake of the collapse of Swiss giant Credit Suisse.
“We do believe we have a robust system, a strong system,” Sunak’s official spokesman Max Blain told reporters on Monday.
ALSO READ: Stocks slump as Credit Suisse rescue fails to ease fear of global crisis
UK banks are “safe and well-capitalized,” Blain said, adding that Sunak has faith in the country’s “strong regulatory system.”
“We have taken a number of steps over the past 15 years to strengthen the system,” he said.
The issue is largely a matter for the Bank of England, but Sunak is getting regular updates and has been in touch with the Swiss president, Blain said.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
