UK data watchdog blocks naming of banks which lost COVID loan guarantees

Q: How long will it take to read this news story?

The story "UK data watchdog blocks naming of banks which lost COVID loan guarantees" has 732 words across 24 sentences, which will take approximately 4 - 7 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "UK data watchdog blocks naming of banks which lost COVID loan guarantees" was covered 6 hours ago by Channel News Asia, a news publisher based in Singapore.

Q: How trustworthy is 'Channel News Asia' news outlet?

Channel News Asia is a fully independent (privately-owned) news outlet established in 1999 that covers mostly economy and business news. The outlet is headquartered in Singapore and publishes an average of 54 news stories per day. It's most recent story was published 1 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21763067</li><li>URL: https://beamstart.com/news/uk-data-watchdog-blocks-naming-17218360686493</li></ul>

Channel News Asia Logo Channel News Asia 6h ago

UK data watchdog blocks naming of banks which lost COVID loan guarantees - Channel News Asia

Quick Summary:

LONDON : Britain's information watchdog has rejected a Reuters appeal to identify lenders who have lost or surrendered state guarantees on millions of pounds of COVID-19 emergency loans, citing potential harm to their commercial interests.

But the ICO has accepted the BBB's position that naming the banks could "have a bearing on a lender's ability to compete for customers and against other lenders or investors", with public interest arguments outweighed by potential "commercial harm".

Under terms of the various schemes, 80-100 per cent of the loan value was guaranteed by the government in the event of default but the guarantee could be removed by the BBB if a loan was later judged to be ineligible, leaving banks liable for 100 per cent of the debt.