Banks Not Ready for Negative Rates, NatWest Chairman Davies Says

Many contractual and technical issues with sub-zero rates
Brexit talks paid little attention to finance, Davies says

Howard Davies, chairman at Natwest Group, discusses the potential economic impact of new lockdown measures in London and the need for further stimulus in the U.S. and Europe. He speaks on “Bloomberg Surveillance.” (

Source: Bloomberg

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By Tom Metcalf, Anna Edwards, and Matthew Miller

October 15, 2020 at 10:31 AM UTC

This article is for subscribers only.

British lenders aren’t in a position to implement negative interest rates, according to the chairman of NatWest Group Plc.

“We’re not completely ready for it,” Howard Davies said in a Bloomberg Radio interview Thursday. “There would be technical issues and many contractual issues.”