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To embed, copy and paste the code into your website or blog: The Greensill case illustrates the impact of the COVID-related crisis on the shadow banking sector to which riskier credit business had migrated financed by securitisation rather than deposit taking following the heavier capital requirements imposed on regulated banks after the 2008 financial crisis. It also shows that Lex Greensill s engagement in crisis-driven government funding programmes goes back to the days of the crisis and his time with Citibank. In 2020, Lex Greensill had sought financial assistance by lobbying HM Treasury and the Bank of England for inclusion in COVID-related government loan and loan guarantee schemes, initially in the Covid Corporate Finance Facility (CCFF). ....
Covid will ‘reset’ attitudes to contingency planning, Chisholm tells MPs Cabinet Office perm sec says there is “no question” government’s pandemic response could have been better Alex Chisholm appears before the Public Administration and Constitutional Affairs Committee on 18 May 2021 19 May 2021 Cabinet Office permanent secretary Alex Chisholm has told MPs he believes the inquiries into the government’s handling of the coronavirus pandemic will “reset the dial” on contingency planning in Whitehall. Chisholm told a Public Administration and Constitutional Affairs Committee meeting yesterday that work is already “ongoing” to increase resilience across departments and that it is undeniable that the response could have been better. He was speaking ahead of the publication of a National Audit Office report setting out initial lessons to be learned. ....