Summary
THE Bank of England made a dramatic U-turn in its handling of the credit crisis after agreeing to pump at least pounds 10bn into longer-term-money markets.
The bank has already moved to prop up overnight markets between banks crippled by fears over losses on high-risk US mortgages, but had refused to intervene in three-month money markets.See the full content of this document
Extract
Bank U-Turn On Credit Crisis Funds
But confidence in the banking system has been...
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