Economics
BOE Warns That Loan Charges Could Hurt Business Funding: FT
A pedestrian walks past closed cafes and a pub in view of St. Paul's Cathedral in London, U.K., on March 24.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The Bank of England has warned U.K. lenders that booking large charges on bad loans could curb their ability to support struggling companies, the Financial Times reports, citing several people involved in the discussions.
The BOE’s Prudential Regulation Authority has advised bank executives not to “kitchen sink” provisions in the first quarter, the people told the FT.