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MNI POLICY: Call For GBP100Bln Bad Debt..........>

UK
UK: MNI POLICY: Call For GBP100Bln Bad Debt Recovery Corp In UK
- A City group with close links to both the Bank of England and Treasury has
called for the creation of a new body that will aim to prevent the shock of up
to GBP100 billion defaults by small-to-medium sized firms on government Covid
19-related loan schemes. TheCityUK Recapitalisation Group, the working body
behind the scheme, has developed a series of detailed options to allow smaller
firms to either turn government loans into tax liabilities or, through financial
engineering, into subordinated loans or preference shares.
- For full story see MNI Main Wire at 00:01 BST 07/16 or contact
sales@marketnews.com for access.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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