BoE issues extra £4.4bn in emergency funding - papers September 14


British banks have snapped up another £4.4bn in emergency funding offered by the Bank of England yesterday to replenish liquidity and give them more leeway to borrow without penalty to manage daily cash flow, the Scotsman reports.

The Bank, which has so far taken a largely hands-off stance on the crisis engulfing world credit markets, allowed banks to top up the reserves they hold in central bank coffers by £4.4bn, the maximum limit flagged last week. CHANCELLOR ALISTAIR DARLING has shone the spotlight on the role played by credit-rating agencies in the liquidity crisis in a letter to fellow European finance ministers, the Telegraph reports. The controversial role of the agencies will top the agenda when EU ministers meet today in Portugal. Calling for a co-ordinated response to the crisis, Mr Darling said ministe...

To continue reading this article...

Join Professional Adviser

  • 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.



Already a Professional Adviser member?


More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •