Bank of England's Woods says impairments among banks are rising By Reuters

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Bank of England's Woods says impairments among banks are rising

Published Sep 19, 2023 08:44 Updated Sep 19, 2023 11:21

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Bank of England's Woods says impairments among banks are rising

© Reuters. Deputy Governor for Prudential Regulation Sam Woods, attends a press conference after issuing The Bank of England's latest Financial Stability Report in London, Britain July 12, 2023. REUTERS/Anna Gordon/Pool/File photo

(Refiles to remove extraneous word from headline, no changes to text)

LONDON (Reuters) - Bank of England Deputy Governor Sam Woods said on Tuesday that impairments were rising among banks after being held down by government measures during the coronavirus pandemic.

"As we look at it now, we are actually seeing a pick-up in impairments across the banking sector," Woods told CNBC television. "It's not one that people should be alarmed about... It's going up but from a very low base and we have got a close eye on it."

British households and businesses have been hit by the surge in inflation last year and a subsequent climb in interest rates by the BoE.

Woods also said the BoE was monitoring British banks' exposure to China's weakening property sector.

(This story has been refiled to remove an extraneous word from the headline)

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Comments (2)

rustylargo Sep 19, 2023 13:50

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from a very low base.....fudge

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TUJAR ABRAHIM USMAN Sep 19, 2023 13:50

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from a very low base.....fudge

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Jon Kappes Sep 19, 2023 10:31

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Credit Crunch Part 2

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Bank of England's Woods says impairments among banks are rising

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