BoE says opens monetary framework to smaller banks

October 5, 2009

BRITAIN-BANK/RATES    LONDON, Oct 5 (Reuters) – The Bank of England said on Monday it will give more banks access to its open market operations to help smaller institutions better manage their liquidity.
   Previously, only institutions with an average level of eligible liabilities of at least 500 million pounds could apply to hold a reserve account with the central bank and participate in its regular tenders, the BoE said.
   “The Bank is widening eligibility to apply for access to Reserves Accounts in order to assist smaller instutions to manage their liquidity,” the BoE said in a statement.
   To view the full BoE statement, please click on:
  ((UK Economics Desk; Tel. +44 207 542 2774))
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 Monday, 05 October 2009 10:12:32RTRS [nLAJ002255] {EN}ENDS

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