UK banks borrowed more than £640bn from Fed - papers

The disclosures came because the Dodd-Frank Wall Street Reform Act forced the Fed to reveal which banks and companies it lent money to in an effort to shore up the financial system from the end of December 2007 onwards, writes the Telegraph. It released the details of more than 21,000 individual transactions on its website, which showed British banks represented more than a third - about $1.5trn - of the $3,300bn lent by the US authorities to prop up the financial sector. Read more   Manufacturing index soars to a 16-year high Britain's manufacturing outlook leapt to its high...