Banks and business caught out by emergency measures

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The regulators have urged all action necessary to get coronavirus cash to firms, with a veiled a warning if lenders don’t hurry up

Get a bloody move on. That was not, obviously, the wording of the exhortation to banks in Wednesday’s joint letter from the chancellor, the governor of the Bank of England and head of the Financial Conduct Authority. But the gist was clear. The authorities are worried that their emergency measures are not being implemented on the ground by lenders – or, at least, not fast enough.

 

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