Britain covid-19 pandemic Britain

HSBC opts out of Britain's pandemic loan collection plan

Reading now: 348
www.livemint.com

HSBC has opted out of an industry-wide plan for collecting unpaid emergency COVID-19 business loans, in a blow to efforts by other banks to team up to limit any reputational damage if firms struggling to repay are treated unfairly.Reuters reported in December that only 10 of 23 lenders that have granted 'bounce back' loans (BBLs) had at the time joined the body, with most smaller ones opting out believing it did not offer value for money.HSBC told industry body UK Finance, which is setting up the central body, this week that it would not be joining, a source with knowledge of the matter told Reuters, after a decision by senior HSBC managers in recent weeks.Major banks have been toiling for months to set up a co-ordinated system for.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Boris Johnson - Music industry reacts to government’s decision to scrap COVID self-isolation rules - nme.com
nme.com
44%
199
Music industry reacts to government’s decision to scrap COVID self-isolation rules
COVID.Downing Street has said that Prime Minister Boris Johnson will reveal details of his “living with COVID” plan on Monday (February 21) – outlining that factors such as vaccination, testing, and anti-viral drugs will be enough to keep people safe, rather than expecting infected people to stay at home.Self-isolation regulations for those who test positive and their close contacts are expected to cease by the end of this week.“COVID will not suddenly disappear, and we need to learn to live with this virus and continue to protect ourselves without restricting our freedoms,” said Johnson. “We’ve built up strong protections against this virus over the past two years through the vaccine rollouts, tests, new treatments and the best scientific understanding of what this virus can do.”He added: “Thanks to our successful vaccination programme and the sheer magnitude of people who have come forward to be jabbed, we are now in a position to set out our plan for living with COVID this week.”Labour’s Shadow Health Secretary told BBC‘s Sunday Morning today (February 20) this was “declaring victory before the war is over”, that ending mandatory self-isolation was “not the right thing to do” and that this was a distraction from the ongoing ‘partygate’ scandal.“At this stage the PM risks muddying the waters,” he said. “We want to see the government publish the scientific advice because at the moment this seems very premature.”“He continued: It seems like Boris Johnson is keen to declare victory before the war is over in the hope he gets some headlines about ‘victory day on COVID’ instead police officers asking questions about actions in Number 10.”Labour Shadow Health Secretary Wes Streeting tells #Raworth that dropping remaining
DMCA