BBA welcomes Darling's second bank bailout
www.moneynews.co.uk > Mortgages > BBA welcomes Darling's second bank bailout
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Money News |
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BBA welcomes Darling's second bank bailout
Tue 20th Jan 2009
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Claiming to be "the voice of banking and financial services", the banking industry body said that the announcements would help improve liquidity in the financial markets.
Mr Darling's package includes setting aside £100 billion of taxpayers' money to underwrite mortgage-lending by banks and building societies, thus reducing the potential financial risks they face.
The BBA said: "[The] package of measures - for which banks will pay - underlines their continuing commitment to helping the UK economy through these difficult times.
"We look forward to working speedily through the details with the relevant authorities."
The BBA has 223 members based in 60 different countries for whom it comments on issues affecting the UK banking industry.
Its members include Abbey, Alliance & Leicester, Barclays and HSBC, among others.
Click here for more banking news
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Related News : Banking |
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