Industry welcomes banking rescue package

After consultation with the Bank of England and FSA, the Treasury has agreed a plan to provide UK banks with access to at least £200bn to increase liquidity under the Special Liquidity Scheme. In a statement, the Treasury announced it was taking this action to "ensure the stability of the financial system and to protect ordinary savers, depositors, businesses and borrowers." Paul Niven, head of asset allocation at F&C, was supportive of the move. He said: "After much uncertainty, clarity over the plan is welcome and will help to reduce speculation over just how much existing bank investor...