Chancellor of the Exchequer Jeremy Hunt said consumers and companies need to be able to access their money quickly in the event of a bank collapse, as the UK government seeks to learn from the failure of California’s Silicon Valley Bank.

“We want to make sure that people have access to their deposits as quickly as possible,” Hunt said after meeting with Group of Seven finance ministers and central bank governors in Niigata, Japan, on Saturday. “You need to make sure that the legal and regulatory structures are nimble enough in that emergency situation.”

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