Financial Services Financial Services

Banks should stay alert to risk from Covid business failures, BOE’s Bailey says

By Fiona Maxwell
  • 08 Sep 2021 13:30
  • 08 Sep 2021 13:30
UK banks haven't yet been hit hard by loan defaults from businesses going bust due to Covid-19 difficulties, but more failures look to be on the horizon, the Bank of England's governor has warned.
Andrew Bailey told lawmakers that although repayment of government-backed loans has been higher than expected to

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Fiona Maxwell

Senior Correspondent

Fiona Maxwell is a financial services senior correspondent at MLex in London. She began her career as a reporter for, writing about EU post-crisis regulation, and later worked for POLITICO in Brussels, covering the intersect between financial policy and politics. Prior to joining MLex, Fiona worked at the Bank of England as a policy adviser in the prudential policy directorate.

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