Barclays, citing clearing breakdown, again borrows from Bank of England

Article Abstract:

Barclays PLC has sought funding from the Bank of England for the second time within as many weeks for a total of $3.23 bil at a 6.75% rate, one percentage point higher than the Bank of England's policy rate. Barclays stated it required the funds due to a clearing system technical problem.

Barclays PLC, United Kingdom. Bank of England

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A weekend of worry tests big U.K. lender

Article Abstract:

The UK Financial Services Authority issued a statement supporting Northern Rock PLC after the mortgage bank withstood withdrawals by concerned customers totaling more than $2 bil. The sector continues to be plagued by problems stemming from the US subprime market.

Public affairs, Economic aspects, International aspects, Influence, Public relations, Northern Rock PLC, Company public relations, United Kingdom. Financial Services Authority, Subprime loans

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