UK Banks

The BoE said that its assessment found some shortcomings or areas for further enhancement, but no serious issues were uncovered that were serious enough to hamper the resolution

The UK bank is seeking to replenish its ranks in the market after Ashish Jhaveri, head of mergers and acquisitions for the firm in India, left for Jefferies Financial Group Inc

The Bank of England warned Wednesday that households across the UK are facing increasing problems from the sharp increase in interest rates but found that the country's biggest banks are resilient enough to offer more help than they were able to before the global financial crisis 15 years ago. In its regular health check of the economy, the central bank said British households are facing higher debt burdens as a result of rising interest rates, particularly those whose fixed-rate mortgage deals have come to an end or soon will be. However, it said there are several factors that should limit the number of people who have to default on their mortgages. It noted, for example, that the country's banks have more capital than they did 15 years ago to allow them to offer struggling households more financial options such as allowing borrowers to vary the terms of their loans. The bank lifted its main interest rate by half a percentage point to a 15-year high of 5% last month and warned of .

Asked if the Treasury will come up with a solution by the time the London markets open on Monday morning, Sunak replied: "The Treasury is working at pace."

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

Barclays shares were up 3% at 1130 GMT.

More deposits help shore up bank finances, but are not necessarily good news for lenders

At least one major UK company already faces a hard-hitting resolution aimed at making it more green.

The industry is demanding a new arrangement where international staff posted to Britain for less than six months will be able to come and go freely without having to apply for a work visa