Bloomberg UK banks must get on with providing loans to small and medium-sized businesses to counter the economic shock from the coronavirus pandemic, according to Bank of England (BOE) Governor Andrew Bailey. Asked about scenarios presented by the public spending watchdog this week that showed economic output could plunge 35% in the second quarter, Bailey said that isn’t implausible. The ...

Bloomberg The US central bank said it will disclose information regarding borrowers who seek emergency aid through its forthcoming corporate credit facilities. “The Federal Reserve will publicly disclose information regarding the CCFs during the operation of the facilities, including information regarding participants, transaction amounts, costs, revenues and other fees,” according to a frequently-asked-questions page posted Friday on the New York ...

Bloomberg Wells Fargo & Co. has hired a new head lobbyist in Washington, as the bank works to restore its standing after a series of consumer-abuse scandals that have tarnished its brand and infuriated lawmakers. Brian Smith, 52, will join Wells next month, according to a memo sent out by William Daley, the bank’s vice chairman of public affairs. Smith, ...