UK financial sector told it must be prepared for risks from businesses damaged by coronavirus pandemic
The Bank of England has written to UK bank bosses telling them to review their exposure to losses that could emerge from businesses hardest-hit by Covid-19, as part of efforts to head off potential risks to the financial system.
The review is likely to cover theaccommodation, food, retail, leisure and construction sectors, which have been battered by travel restrictions and strict social distancing measures, as well as regional and nationwide-lockdowns imposed since March.
