–BOE: Discount Window Collateral Set To Cover Individual Loan Portfolio
–BOE: Discount Window Collateral Set To Cover Non-Banks
LONDON (MNI) – The Bank of England is set to extend the collateral
it takes through its Discount Window Facility (DWF) next year, the
central bank revealed Monday.
Following consultation with market participants, the BOE said it
intends to extend the range of DWF eligible collateral to include
portfolios of loans to individuals and non-banks, with the change
expected in 2011.
The BOE is also committed to increasing collateral transparency
for asset backed securities and covered bonds.
It said that in order to accept loans as collateral it would
“require information on the participant’s lending procedures and
policies.”
The web address of the full market notice is below:
http://www.bankofengland.co.uk/markets/marketnotice100719.pdf
–London newsroom: 0044 20 7862 7491; email: drobinson@marketnews.com
[TOPICS: M$B$$$,M$$FI$,M$$BE$]
