Summary
MERVYN King has announced new steps to improve credit conditions with a plan by the Bank of England to buy up corporate bonds and bills issued by companies operating in Britain.
The scheme to buy up to Pounds 50bn of these assets was first announced by Alistair Darling on January 19 and is seen as a critical step in easing the credit crunch in industry.See the full content of this document
Extract
King Unveils Pounds 50bn Credit Easing Move [Edition 3]
In a letter to the Chancellor, the Bank's Governor says that the new Asset Purchase Facility could ...
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