The UK central bank Bank of England is widening the range of collateral it takes from banks in the provision of their funding needs. The central bank is to take paper, which is not AAA rated such as U.S student loans. The Bank of England governor Mervyn King is probably pondering how to get the banks off this funding tap.
www.searchifa.co.uk
Apparently, the Governor is being more pragmatic and is less concerned at making the banks pay for their mess.
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