BoE to loan Landsbanki UK arm £100m - Darling

The Chancellor unveiled the plans, which will help repay the bank’s UK creditors, in the House of Commons. Customers with Icesave, the bank's internet operation, and any of its other UK depositors are understood to benefit from the package. The action follows stinging criticism from Gordon Brown last week, who branded Iceland’s failure to guarantee British savings in its banks as “totally unacceptable and illegal”. It also comes as the Chancellor defended today's dramatic cash injection for the banks as a “significant step” to restoring confidence in the system. In a Commons statement,...