Asset-Buying Scheme Targets Quality Private Sector ; Economy

Summary

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The Chancellor and Governor of the Bank of England last night gave details of the pounds 50 billion asset-buying scheme to free up credit and lift the economy.

In an exchange of letters, Mervyn King and Alistair Darling confirmed the fund will purchase only high-quality private sector assets, with the aim of improving liquidity for credit-starved companies.

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Extract

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Asset-Buying Scheme Targets Quality Private Sector ; Economy

Mr King said the purchases will focus initially on corporate bonds, commercial pap...

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