LONDON, March 25 (Reuters) - British banks must keep lending
to businesses through the coronavirus crisis to ensure that
previously viable companies do not fail, the government and Bank
of England said on Wednesday.
In a joint letter to the chief executives of major banks,
finance minister Rishi Sunak, Bank of England Governor Andrew
Bailey and the interim chief executive of the Financial Conduct
Authority, Chris Woolard, urged lenders to support the economy.
"This will require a willingness to maintain and extend
lending despite the uncertain economic conditions. We must
ensure that firms whose business models were viable before this
crisis remain viable once it is over," they wrote.
Banks were expected to support all types of firms, not just
those covered by BoE and government schemes rolled out so far,
they added.
(Reporting by David Milliken
Editing by William Schomberg)