Wednesday, Mar 19, 2008
BOE takes unusal step of refuting rumours surrounding UK Bank
Citywire: Bank of England denies HBOS approach for funding
The Bank of England (BoE) has issued a statement denying rumours that it has met with HBOS to discuss emergency funding.The BoE was forced to make the statement amid mounting speculation it had sought emergency funding from the Bank.
A BoE spokesman said the highly unusual decision to refute the rumour was taken after HBOS’ own denial failed to satisfy the market and support its share price.
The statement said: 'The BoE has not been approached by any UK financial institution or is aware of any British bank facing liquidity problems.'
Posted by jack c @ 07:34 PM (380 views) Add Comment
3 Comments
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1. paul said...
"The BoE has not been approached by any UK financial institution or is aware of any British bank facing liquidity problems"
Of course, when it transpired that Northern Rock was in trouble, the Bank of England and the Treasury immediately came clean, and admitted it straight away.
2. harold said...
Smoke? Fire? Run for it!
3. A Saver said...
Someone yesterday on this site reported difficulties with accessing their HBOS account online. I had no trouble getting through on the business banking line and transferring some funds (which I do regularly). I have never banked online, have never quite trusted assurances about how secure it is -especially now. I imagine that if another bank was to start going under, the government would step in a bit quicker than last time. Even though they are pretty slow learners. The problem is if several banks failed a bit further down the line.