Mar 20, 2023
Sunak Backs ‘Robust’ UK Banking System After Credit Suisse Shock
(Bloomberg) -- Prime Minister Rishi Sunak believes the UK’s banking system remains safe from contagion in the wake of the collapse of Swiss giant Credit Suisse.
“We do believe we have a robust system, a strong system,” Sunak’s official spokesman Max Blain told reporters on Monday.
UK banks are “safe and well-capitalized,” Blain said, adding that Sunak has faith in the country’s “strong regulatory system.”
“We have taken a number of steps over the past 15 years to strengthen the system,” he said.
The issue is largely a matter for the Bank of England, but Sunak is getting regular updates and has been in touch with the Swiss president, Blain said.
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