Mystery institution bailed out by BoE

clock

The Bank of England has given a loan of £314m to an unidentified party via its standing lending facility it was announced today.

This is the first time the facility has been used by an organisation since the beginning of the current credit crisis. The borrowing institution will have to pay a penalty rate of 6.75%. Recent problems in debt markets have caused a number of mortgage lenders to withhold products due to a lack of funding. If you would like to comment on this story, contact: John Bakie Tel: 020 7034 2682 e-mail: [email protected] IFAonline

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Who really owns the digital client relationship? From ownership to orchestration

Who really owns the digital client relationship? From ownership to orchestration

The battle for the digital layer

Tessa Lee
clock 23 February 2026 • 5 min read
Why more financial advisers should post on TikTok

Why more financial advisers should post on TikTok

‘In 2026, financial advisers should take another look at TikTok’

Joe Jordan
clock 23 February 2026 • 4 min read
Treasury's AR consultation: Extending the FOS' scope a 'concern'

Treasury's AR consultation: Extending the FOS' scope a 'concern'

‘FOS needs to be overhauled as it is’

Isabel Baxter
clock 19 February 2026 • 4 min read