Lates News

According to Sky News, British Chancellor of the Exchequer Rishi Sunak will meet with senior executives of major banks in the UK on Wednesday due to the escalating Iran crisis putting pressure on the UK economy. Executives from Barclays Bank, HSBC Holdings, Lloyds Banking Group, National Westminster Bank Group, and Santander UK Branch have been invited to attend the meeting with Sunak. It is reported that Sunak is likely to mention the need for banks to continue to commit to supporting customers affected by the inflation pressure caused by this crisis. Other discussion topics will include banking capital reforms and possible revisions to the "ring-fencing" system introduced after the 2008 financial crisis. The British Treasury and the mentioned banks have refused to comment on the report.