The coming US dollar crisis Message Board

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Strategies & Market Trends : The coming US dollar crisis

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To: stan_hughes who wrote (1051)	9/19/2007 7:52:01 AM
From: RockyBalboa	Read Replies (2) of 71446

British pound tankage, Like the ECB, also the BoE resorts to printing in 3-Months rather than daily. ----------------------------- BoE to provide liquidity in 3-month interbank mkt, 1st auction 10 bln stg UPDATE Wed, Sep 19 2007, 11:27 GMT afxnews.com (adds more details) LONDON (Thomson Financial) - The Bank of England today announced that it will offer funds of 10 bln stg in the interbank market next week, at the 3-month maturity level, and will follow it up with three more auctions at weekly intervals. The size of future auctions will be decided later. The BoE also widened the range of collateral it will accept. Mortgages will now be included. "This measure is being taken in order to alleviate the strains in the longer maturity money markets," it said. The interest rate will be at a floating rate expressed at a spread over the Bank rate of 5.75 pct. The BoE said it will release further details on Friday, September 21. Previously the bank was only involved at the short term level, providing two injections of 4.4 bln stg each two weeks in a row. sivakumar.sithraputhran@thomson.com

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