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The Bank of England announces an injection of £10 billion into credit markets in an attempt to bring down 3 month inter-bank interest rates. 9 October 2007 Extended protection for Northern Rock depositors HM Treasury announces that the UK government guarantee would apply to all Northern Rock retail deposits after 19 September.
LABCOs activities as a licensed deposit-taking institution under the Banking Act 1979, were centred on the raising and lending of sterling funds in the wholesale market, bidding for sterling deposits at market rates independently of the normal branch deposit account system and providing medium-term loans to customers falling outside the bank's usual lending arrangements. [1]
Third, the Bank of England could direct private banks adopt specific deposit taking or lending policies, in specified volumes or interest rates. [18] The Treasury is, however, only meant to give orders to the Bank of England in "extreme economic circumstances". [19]
Lloyds Bank plc [1] [4] is a major British retail and commercial bank with a significant presence across England ... and other rate manipulations and false reporting. ...
The London Inter-Bank Offered Rate (Libor / ˈ l aɪ b ɔː r / LY-bor) [a] was an interest rate average calculated from estimates submitted by the leading banks in London. Each bank estimated what it would be charged were it to borrow from other banks. [1] [b] It was the primary benchmark, along with the Euribor, for short-term interest rates ...
The Libor scandal was a series of fraudulent actions connected to the Libor (London Inter-bank Offered Rate) and also the resulting investigation and reaction. Libor is an average interest rate calculated through submissions of interest rates by major banks across the world.
The Trustee Savings Bank (TSB) was a British financial institution that operated between 1810 and 1995 when it was merged with Lloyds Bank.Trustee savings banks originated to accept savings deposits from those with moderate means.
A second bank rescue package totalling at least £50 billion was announced by the British government on 12 January 2009, as a response to the then-ongoing Financial crisis of 2007–2008. The package was designed to increase the amount of money that banks could lend to businesses and private individuals.