Emergency Loan News Sparks Credit Concerns ; Share Prices Market Report

Birmingham Post › August 22, 2007

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Summary

Credit concerns continued to hang over the London market yesterday after it emerged the Bank of England made an emergency loan of pounds 314 million.

The Bank's standing facility, which allows banks to borrow unlimited amounts at a penalty rate of 6.75 per cent, was tapped for the first time since the liquidity crisis began.

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Emergency Loan News Sparks Credit Concerns ; Share Prices Market Report

The identity of the firm involved was not disclosed, but the move cast a cloud over the FTSE 100 Index, which closed a mixed sessio...

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