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BoE adds extra £5bn to weekly cash auction

The Bank of England has confirmed it will be adding an extra £5bn to its normal weekly funds available to banks.

It currently has £11bn on offer at its weekly cash auction.

It has already been revealed that this week’s additional funding was three times oversubscribed.

As a result the BoE says an extra £5bn a week would be released at least until its next monthly meeting on interest rates on April 9.


Innovation ovation

The end of the protection price war has been predicted repeatedly but it seems to be only the smaller companies that are trying to lead the move away from price by focusing on product innovation.

Job cuts loom at Money Partners

Money Partners has confirmed it is to consult with staff on a move which could see up to 65 jobs cut.

Sesame overhauls packager panel

Sesame has introduced a new packager panel and says it will guarantee advisers’ commission in the event of a packager failure.The review assessed mortgage packagers on a range of criteria, including financial due diligence and analysis of packagers’ compliance processes and procedures. Sesame’s new packager panel will comprise of All Types of Mortgages, Enterprise Broker […]

A case of do as we say, not as we do

Robin Gordon-Walker is quoted as saying that the FSA’s expenditure (of other peoples’ money) of more than £13m on external consultants was “based on an assessment of the most efficient use of the regulator’s resources”. An assessment by whom, we may well ask. Unless such an assessment was undertaken by a totally impartial and independent […]


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