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Chancellor-'Financial System Fundamentally Strong, Banks Well Capitalised'

UK

Speaking at Treasury questions in the House of Commons, Chancellor of the Exchequer Jeremy Hunt states "The government does recognise that there is some volatility in markets, but we believe that the UK's banking system is fundamentally strong and our banks are well capitalised." Adds that the gov't will 'continue to monitor the situation carefully'.

  • Comes as Hunt is set to face questions from the House of Lords Economic Affairs Committee at 1500GMT (1100ET/1600CET) on last week's Budget statement. Also likely to have to field questions regarding the ongoing market turbulence surrounding the global banking sector.
  • Link to Committee livestream:https://www.parliamentlive.tv/Event/Index/cf21166a...

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