Monday, Feb 25, 2008
Investment banks are secretly profiting from emergency European Central Bank funding by acting as brokers to funnel billions of euros of much needed liquidity to Britain's banks and building societies.
TELEGRAPH UK: Bankers said that UK lenders were having to access the ECB through the back door
UK lenders with no operations in Europe are particularly at risk of funding problems because they have been struggling to access central bank money.While the ECB has pumped more than $500bn (£254bn) into the wholesale funding markets, dropped its penal rate and widened the collateral it accepts as security, the Bank of England has injected just £20bn.
Posted by chris @ 12:46 AM (162 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.