A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is sensitive to changes in...more
We are sadly amid one of the most extraordinary times any of us can remember. The prevailing hope and expectation is that the current extraordinary times and related disruption is temporary. The rise in “cov-lite” and...more
The UK Government has been quick to respond to the economic shock and disruption caused by the outbreak of COVID-19 and, over the past week, the Chancellor of the Exchequer, HM Treasury and the Bank of England have announced...more
During these unsettled times, there is heightened concern around the implications for borrowers under their secured credit facilities. Broadly these fall into three categories: (1) drawing funds under existing committed...more
On 11 March 2020, the Bank of England (the “Bank”) warned of “an economic shock that could prove sharp and large” resulting from the coronavirus outbreak that started in Wuhan, China, at the end of 2019. Presenting a package...more