[tialaramex]

Specifically, in my case, that bank is (mostly) NS&I, one of several banks owned by the British government.

NS&I doesn't write loans, nor does it have a big vault full of cash somewhere, instead my money is "invested" in running the country I live in. Rather than borrowing money from international money markets by writing gilts (bonds payable by the government) they borrow my money and pay me interest.

As a result, nothing changes, all the same things were going to happen anyway, just they'd have borrowed from the Chinese, or the Americans or whoever was buying gilts.