Uk Mortage Securities
The housing market will not see a return to the profligate mortgage lending practices of the past few years, the governor of the Bank of England insisted on Monday as he announced a massive operation to support liquidity in British banks.
Making an almost unlimited offer to acquire UK banks’ mortgage-backed securities for up to three years in return for Treasury bills, Mervyn King said the plan would “take the liquidity issue off the table in a decisive way”. But he warned that the objective of the plan was neither to persuade banks to start lending again nor stand in the way of a housing market correction.
Alistair Darling, UK chancellor, has told MPs that the Bank of England's latest operation will help resolve problems in the wholesale financial markets and in turn assist businesses, individuals and the mortgage market
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King puts his stamp on liquidity scheme - Apr-21Darling denies banks given £50bn ‘subsidy’ - Apr-21Building societies see......
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Uk Mortage Securities
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