Banking system ‘safe’ says Downing Street – but job losses loom at Credit Suisse

PA Wire

Britain’s banking system remains “safe”, Downing Street insisted on Monday amid turmoil on the FTSE100 following the emergency rescue deal for Credit Suisse.

“As the Bank of England has said, we believe the banking system remains safe and well capitalised,” said a spokesman for the prime minister Rishi Sunak. “We have a strong regulatory system.”