UK pumps $100b to raise liquidity
China Daily | Updated: 2008-04-22 07:23
LONDON: The Bank of England is offering to swap government bonds worth 50 billion pounds ($100 billion) for banks' riskier mortgage debt to try to ease the effects of a credit crunch on Britain's banking system.
Bank of England Governor Mervyn King said the ultimate size of the scheme would depend on how much was needed.
"There is no arbitrary limit on it," King told reporters.
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