Barclays, citing clearing breakdown, again borrows from Bank of England
Article Abstract:
Barclays PLC has sought funding from the Bank of England for the second time within as many weeks for a total of $3.23 bil at a 6.75% rate, one percentage point higher than the Bank of England's policy rate. Barclays stated it required the funds due to a clearing system technical problem.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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A weekend of worry tests big U.K. lender
Article Abstract:
The UK Financial Services Authority issued a statement supporting Northern Rock PLC after the mortgage bank withstood withdrawals by concerned customers totaling more than $2 bil. The sector continues to be plagued by problems stemming from the US subprime market.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
User Contributions:
Comment about this article or add new information about this topic:
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