Banking News Bank Will Overhaul Liquidity Scheme To Prevent Future Financial Crisis 2370
Bank will overhaul liquidity scheme to prevent future financial crisis
17 October 2008 / by Rachael Stiles
The Bank of England has announced it is to overhaul its money market rules to make them more effective in any future financial crises.
The plan is to put news rules in place that will be permanent and not need to be modified when times get tough. The new system will allow lenders immediate access to short term emergency funding in times of financial difficulty.