Bank Crisis Cost GBP 10 Trillion But Easing
Published / Last Updated on 24/06/2009
Bank Crisis Cost £10 Trillion But Easing
The Bank of England has published its Financial Stability Report suggesting that the banking liquidity crisis is now starting to strengthen. The total cost is estimated by the Bank of England at £10 trillion, down from its estimate in March of around £17 trillion. Just a small revision of a few trillion we hear you say
This follows hot on the heals of the Bank of England almost demanding greater control of Banks by them and wrestling control from the financial industry regulator, the Financial Services Authority.
This is somewhat different to what is rumoured that the Chancellor is planning in a new banking act later this year, where he may give more power to the Financial Services Authority to regulate banks more closely.
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