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Western EuropeJanuary 6 2021

Third UK lockdown ‘credit negative for banks' asset quality’

Additional lockdown measures will add negative pressure to banks' profitability, according to Moody’s.
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Third UK lockdown ‘credit negative for banks' asset quality’

British prime minister Boris Johnson announced a full lockdown in England this week in response to a new surge in coronavirus infections, which also prompted lockdowns in varying degrees in Scotland, Wales and Northern Ireland.

In response, chancellor of the exchequer Rishi Sunak announced one-off top-up grants to support retail, hospitality and leisure businesses, and funding for local authorities and regional governments to support businesses not eligible for the top-up grants.

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