Thursday, May 22, 2008
BOE special liquidity scheme - take up could exceed £50bn initially allocated
mortgagestrategy: New Star claims BoE has swapped £16bn in securities
Banks may have swapped about £16bn of securities under the Bank of England’s Special Liquidity Scheme within the first 10 days of its launch, analysis from New Star suggests. The figure is based New Star's broad money supply release for April, published today, which shows that banks removed a record £16.4bn worth of loans from their balance sheets last month.The number represents a sharp upward turn from an average of just £500m in the first three months of 2008.
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