A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is sensitive to changes in...more
Omnibus accounts for payment systems operators and prefunding accounts: BoE update - The Bank of England (BoE) has updated its webpage on payment and settlement to add the following new sections to the information provided in...more
In response to the coronavirus pandemic, the UK government announced “£330 billion of guarantees,” which is divided into two schemes: the Covid Corporate Financing Facility and the Coronavirus Business Interruption Loan...more
In our client alert entitled "Government-backed initiatives to support businesses impacted by the Coronavirus" we gave an overview of various measures announced by the UK Government to help UK business through the economic...more