BOE governor promises long-term easier credit
AFPLONDON--The Bank of England will provide easier credit to the country's banks to help them cope with the scaling back of current liquidity measures, governor Mark Carney announced Thursday.
October 26, 2013, 12:04 am TWN
“Banks can be confident that, when they want to use our facilities, they will be allowed to access them,” he said in a speech marking the 125th anniversary of the Financial Times.
“Because we are both the supervisor and the central bank, the strong presumption is now that, if a bank meets the supervisory threshold conditions to operate and has signed up to our framework, it will be able to use our facilities.”
Carney revealed that the central bank would offer banks longer-term loans and would broaden the range of assets accepted as collateral.