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Responding to the Financial Conduct Authority (FCA) information for firms on Coronavirus (Covid-19) response, Stephen Jones, UK Finance CEO said:
This latest update provides welcome guidance for firms in addition to the swift and continuous actions already taken by the UK public authorities and the industry during these unprecedented times. Banks, building societies and other lenders in the UK are actively preparing for the negative impacts of COVID-19 and focused on supporting their customers over what will be a challenging period for all. ?The FCA's steps to help minimise demand on the industry's existing capacity in the short term means that our focus can be pointed toward customer-care strategies and the systems changes in organisations needed to facilitate this, helping support the real economy and protecting the resilience of the financial system. ?The banking and finance industry will continue to work with the government and regulators over the coming weeks and months to ensure the industry is fully able to prioritise first and foremost on supporting customers to manage their financial needs flexibly and effectively.
This latest update provides welcome guidance for firms in addition to the swift and continuous actions already taken by the UK public authorities and the industry during these unprecedented times. Banks, building societies and other lenders in the UK are actively preparing for the negative impacts of COVID-19 and focused on supporting their customers over what will be a challenging period for all.
?The FCA's steps to help minimise demand on the industry's existing capacity in the short term means that our focus can be pointed toward customer-care strategies and the systems changes in organisations needed to facilitate this, helping support the real economy and protecting the resilience of the financial system.
?The banking and finance industry will continue to work with the government and regulators over the coming weeks and months to ensure the industry is fully able to prioritise first and foremost on supporting customers to manage their financial needs flexibly and effectively.
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