UK banks decline £10bn loan facility

Banks spurned a £10bn (€14.4bn) loan facility from the Bank of England for the second week in a row today.

UK banks decline £10bn loan facility
Tue, 02 Oct, 2007 - 16:40

Banks spurned a £10bn (€14.4bn) loan facility from the Bank of England for the second week in a row today.

No bank took up the offer of a three-month loan at a minimum penalty interest rate of 6.75% - 1% above the base rate and around 0.5% higher than the current interbank lending rate.

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