| 8 December 2023, Friday |

UK govt says country’s banking system safe and sound, after First Republic collapse

Britain’s finance ministry said on Monday that the country’s banking system remained safe, sound and well capitalised, after First Republic Bank  became the third major U.S. bank to fail in two months.

“As the independent Bank of England has confirmed, the UK banking system remains safe, sound and well capitalised,” a spokesperson for the Treasury said via e-mail.

The spokesperson also said First Republic was “a matter for U.S. authorities”.

  • Reuters