Bank of England 'open for business', says Carney
Business news 25 Oct 2013
The Bank of England is to increase lending to smaller banks in a bid to help businesses and consumers.
The Governor of the Bank of England, Mark Carney, said the Bank will offer money for longer periods of time, widen the definition of acceptable collateral assets and offer liquidity at lower prices than before.
Speaking at the Financial Times newspaper's 125th anniversary, Mr Carney said he recognised that the reputation of the UK banking system had been damaged over the last few years but believed that now 'there could be some sustainability, some traction in the recovery'.
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