Wednesday, January 14, 2009
Another banking package
Posted by David Smith at 01:00 PM
Category: Thoughts and responses

Today's announcement of 10 billion of working capital support, together with other measures, came from Lord Mandelson, the business secretary, and is outlined here. That suggests bigger measures are still in the pipeline from the Treasury and/or Downing Street. They may include government guarantees for the issue of new asset-backed securities and the creation of a "bad bank" to take toxic debt off the banks' books.