Tuesday, Oct 28, 2008
It also tells us something about the scale of the economic downturn we're facing.
bbc: The £5,000bn bailout
If I were you, I wouldn't get too worked up by the Bank of England's estimate that credit-crunch losses now total £1,800bn on an assortment of financial assets, such as mortgage-backed securities and corporate bonds.
Of course it's a big number - rather bigger than the annual economic output of the UK.
not recommend to those of a nervous disposition, is its estimate that £5,000bn has implicitly or explicitly been made available by central banks and governments since April 2008 to support wholesale funding by banks.
Posted by malct @ 01:20 PM (198 views) Add Comment
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