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Bank of England lifeline shunned |
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Written by BBC Online
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Thursday, 27 September 2007 |
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Banks and building societies have shown no interest in borrowing up to £10bn of Bank of England funds. There were no bidders for the money in the Bank's auction, which was held to ease strains in the money markets. |
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Industry boss blasts bank system |
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Written by BBC Online
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Thursday, 27 September 2007 |
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The head of the CBI employers' group, Richard Lambert, has criticised the tripartite system designed to underwrite financial stability. He said it had been "found wanting under fire" in the Northern Rock crisis and "tarnished" the UK's reputation. |
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Dollar falls to another euro low |
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Written by BBC Online
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Wednesday, 26 September 2007 |
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The dollar has fallen to yet another all-time low against the euro, after further weak US economic data. Figures showed that US consumer confidence has fallen to a near two-year low, while house prices have seen the sharpest drop in 16 years. |
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Extra loans available for banks |
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Written by BBC Online
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Wednesday, 26 September 2007 |
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Banks and building societies will now be able to borrow additional funds from the Bank of England in a move aimed at reducing the "credit squeeze". |
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Darling promises changes to ensure stability |
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Written by Reuters
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Sunday, 23 September 2007 |
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The country will learn the lessons of the Northern Rock crisis and make whatever changes are needed to ensure anything like it does not happen again, finance minister Alistair Darling said on Sunday. |
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