situation report

Apr 16, 2008 | 19:36 GMT

1 min read

U.K.: New Lending Scheme To Ease Credit Crunch

The Bank of England is preparing to unveil a new Treasury-backed lending scheme for British Banks, based on the recent changes made by the U.S. Federal Reserve, in hopes of easing the credit crisis, the British Broadcasting Corp. reported April 16. The scope and details of the plan have yet to be finalized, but it reportedly could begin as soon as the week of April 21.

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