Thursday, Aug 30, 2007
Continuing cracks in the system?
FT.com: Sterling falls on BoE emergency lending
Sterling lost ground on Thursday after the Bank of England revealed it had lent £1.6bn through its standing facility to an unnamed borrower, sparking renewed fears over liquidity in the wake of the recent turmoil on credit markets.
Posted by whiteknight @ 11:59 AM (381 views) Add Comment
4 Comments
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1. Orwell said...
But who is it?
Anyone care to spill the beans from the BOE?
2. waitingfor hpc said...
BARCLAYS - Can they go pop?
3. whiteknight said...
No idea who it is . Wont speculate just at this point ......
However, when the market stops recovering for a few days because a senior banking executive says "this is not related to liqudity issues" or "this is the limit of our exposure" after borrowing, for example, £1.6 billion
...... then and only then will we be getting to the level of understanidng of how bad this really is..... that it will start to be solved.
4. paul said...
RUNAWAY! RUNAWAY!
They're hardly likely to say "Yeah we've got some serious liquidity problems so we tapped the central bank on their offer to paper up the cracks."
I know of someone in a UK investment bank who believes things will go seriously pear shaped by next month. All holidays are cancelled.