Thread by @CommonsTreasury

Not long to go until our evidence session on the economic impact of #coronavirus with @HSBC_UK @RBS @LloydsBank @barclaysuknews & @StarlingBank.

Watch it live today at 9.30am here:

parliamentlive.tv/Event/Index/ad…

https://twitter.com/CommonsTreasury/status/1255874586987634688

Or you can watch us live on BBC Parliament here shortly:

bbc.co.uk/iplayer/live/b…

We're underway with the banks for our evidence session on the economic impact of #coronavirus.

Watch it live here: parliamentlive.tv/Event/Index/ad…

First up, @MelJStride asks Anne Boden from @StarlingBank why the UK has been slower at getting emergency loans from banks to businesses #coronavirus

Chair @MelJStride asks @LloydsBank about a report in the Times in which a member of Lloyds' staff was recorded as saying: "We're seeing that quite a high proportion [of businesses] don't actually qualify against the criteria the government set out, so that's a massive help."

Next up, @FelicityBuchan asks about #BounceBackLoans. Matt Hammerstein said there were 200 applications when the scheme went live at 9am this morning, and there are continuing to be around 35 applications a minute.

Lloyds told us that they had around 2,000 #BounceBackLoans applications in the first two hours of the scheme being open this morning, with an average loan of around £35,000.

Next up, @rushanaraali asks about the eligibility criteria for the #Coronavirus Business Interruption Loan Scheme (CBILS), and what are the most common reasons for banks rejecting a loan application.

Lloyds and Barclays told us that their approval rate for issuing CBILS is around 90%.

.@angelaeagle asks if there is a tension between #BounceBackLoans and CBILS.

Amanda Murphy from @HSBC_UK told us that she doesn't believe that is the case.

Next up, @SteveBakerHW asks whether banks are able to meet the demand for the larger #coronavirus business loans (CLBILS).

Lloyds told us that they've approved about £100m worth of CLBILS.