Bank of England's £5bn offering to banks five times oversubscribed
In order to pump liquidity into the money markets the Bank of England offered £5bn to banks over a three-day period; however UK's banks wanted more and requested a total of £23.6bn.
The requests from the banks underlined uncertainties in the money market after the near collapse of Bear Stearns, the US's fifth largest investment bank on Friday. The interbank rate for overnightOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Personal
Why the regulators are looking more closely at MGAs
MGAs are facing intensified oversight as regulators review delegated authority models, but Marcel Le Gouais asks could the scrutiny jumpstart measures to resolve claims and data quality issues?
Are first edition children’s books an insurance risk?
Emma Myrie, lead underwriter at specialist home insurer Homeprotect, warns that valuable children’s book collections are an often-overlooked contents risk that could leave policyholders underinsured.
FCA’s Reynolds outlines insurance priorities
Graeme Reynolds, director of competition and interim director of insurance at the Financial Conduct Authority, takes centre stage in the latest Insurance Post Podcast, setting out the regulator’s key priorities for the market.
FCA issues ghost broker warning to young drivers
The Financial Conduct Authority has warned 17 to 25-year-olds about fake car insurance, after research found 49% of young drivers have bought policies through social media.
Millions of drivers ‘gambling’ with reduced cover to cut costs
One in seven motor insurance policyholders have cut back on their level of cover over the past two years, according to new analysis, pointing to millions of drivers ‘gambling’ with reduced protection.
Ageas the latest to move into pet insurance
After refusing to rule out a product in the future, Insurance Post can reveal Ageas UK has started the process of entering pet insurance.
Diary of an Insurer: Marshmallow’s Tash Patient
Tash Patient, reinsurance and capacity manager at Marshmallow, engages in data-driven reporting, stakeholder meetings, lunchtime runs on Wandsworth Common, and enjoys a night out at The Devil Wears Prada musical.
Eight out of 10 UK insurers secretly track customers
Eight out of 10 UK insurance websites are setting tracking cookies before users have given their consent, according to research by Birmingham-based ALT Agency.