Banks are strong enough to keep supporting UK households and businesses through the recovery from the pandemic
The UK economy is projected to recover further from the Covid pandemic over the remainder of the year. But risks to the recovery remain, particularly around how the economy will adjust as Government support, such as the furlough scheme, comes to an end.
The UK banking system is strong enough to continue to support households and businesses through the economic recovery. Major UK banks and building societies have been resilient to the challenges posed by Covid, and their capital and liquidity positions remain strong. It is important for banks to continue to lend to support viable, productive businesses. Maintaining the provision of finance can help businesses and the economy grow.