Icelandic crisis bank loaned £100m (€128.3m) by Bank of England

A stricken Icelandic bank has been loaned £100m (€128.3m) by the Bank of England to keep it operating while efforts are made to get UK creditors’ money back, it was announced today.

The loan, secured against assets of Landsbanki frozen by the British government, is designed to ensure the institution can continue to operate in the short term.