A package of radical measures to get British banks lending more is due to be hammered out at the weekend in an attempt to prevent the recession souring into an even more serious downturn, The Times reports.
Amid a growing sense of urgency, ministers are working on proposals paving the way for fresh capital injections into banks, for relaxation of rules on balance-sheet strength and for government guarantees of toxic assets on bank balance sheets. Treasury and Bank of England officials are bracing themselves for a hectic weekend as Alistair Darling tries to finalise measures in time for an announcement early next week. THE MYSTERY SURROUNDING Bernard Madoff's $50bn Ponzi scheme deepened further last night as it emerged there was no evidence the alleged fraudster traded a single share on beh...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
