Thursday, Apr 17, 2008
Oversubcripition to money auction
Bloomberg: BOE Received Most Bids in Three Months at Auction
The Bank of England said financial institutions bid for 50 billion pounds ($99 billion) in its weekly auction, the most in three months, as a worsening shortage of credit increased the need for central bank funds. The Bank of England offered 13.7 billion pounds in today's sale, it said in a statement in London. That made the operation more than three times oversubscribed. Total bids were the most since Jan. 10.
Posted by crash n burn @ 02:59 PM (641 views) Add Comment
11 Comments
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1. whiteknight said...
jesus wept.
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. hpwatcher said...
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5. plato said...
Isn't this Hyperinflation???
6. plato said...
Actually: Isn't this Criminal???
7. waiting for the crash said...
Don't know quite what to make of this:
1) Banks have no money to lend - oh s***.
2) Banks want cheap money from the govt - rip of tax payer and make more profit.
3) All of the above.
8. layers said...
Question is where are they investing all this cheap cash? Oil and grain? And how freaking long are they going to keep receiving this! And don't think that the conservatives would be much better.
9. plato said...
CML said : "We need more liquidity and on longer terms,''
Translation : "We're taking the pi$$...........
10. Ong said...
Can anybody point to an article that explains the implications of this?
11. alan said...
Watch the pound slide....again!
This country needs a general election before it all goes down the swanee.....