Exact(17)
Concerns about the government's ability to support the banking sector have put the currency into a tailspin.
Mr. King said the new measures would "support the banking sector, and provide it with incentives to increase lending to the real economy".
After the financial crisis of 2008, the Fed moved into emergency mode to lift the economy and support the banking system.
Mr. King, according to news agency reports from London, said that the Bank of England was prepared to resume buying assets to support the banking system.
estimated that Britain would spend up to £145 billion, or 10percentt of the G.D.P. expected for the year, to support the banking system.
The agency also said it was concerned that the government may need to support the banking sector for it to regain access to private capital markets, which may have an impact on the country's debt metrics.
Similar(43)
"We've got enough cash to support the bank.
Deutsche Bank's rivals on Wall Street may not support the bank's position.
Iceland's government has pledged to support the banks, though it has refused to say how.
He points out the circle of codependency between the nations and their banks: the nations support the banks to keep them from falling prey to markets, but the banks support the nations, too, by buying their debt.
To right the bank, the regulator would take the parent company's debt and turn it into enough equity to support the bank's operations in the future.
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