UK should address banks' funding needs, a think tank says

10/4/2010 | Guardian (London), The

As banks continue to rely on Bank of England funding two years after Lehman Bros collapsed, the government needs to consider doing more to help with banks' borrowing requirements, according to the New Economics Foundation, a leading think tank in the UK. Funding schemes established during the financial crisis are set to expire by the end of 2012, and banks will need to find or replace billions of pounds in funding. "We believe the public sector is likely, once again, to be asked to bail out the banks for the emerging funding gap," the think tank said.

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Guardian (London), The

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