Dr. Peter Morici: Bank of England announces New Special Liquidity Scheme; Like Federal Reserve moves, Too little to resolve Credit Crisis
Apr 22nd, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Bank of England (BOE) has announced a £50 billion lending facility that will permit British banks and building societies to borrow against mortgage-backed and other securities for terms up to one year, and renewable by the BOE for up to three years.