After a meeting between Jeremy Hunt and bankers at No 10, Nikhil Rathi says there will be ‘no repeat’ of 2008
Mounting mortgage pressures will not tip Britain into the tidal waves of repossessions witnessed in recent financial crises, the head of the City watchdog insisted after an emergency meeting with the chancellor and bankers at No 10.
Nikhil Rathi, the chief executive of the Financial Conduct Authority (FCA), said that while households were increasingly worried about how to cope with higher debt payments, lenders would not act hastily.
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