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Now, in terms of the overall size, just to put it in perspective, the total borrowing or lending, I should say, of the five international MDBs was at about $100 billion in the last year or the year before, of which the World Bank contributed about half, so about $55 billion from the World Bank.
Jim Cuthbert, a former chief statistician for the Scottish Office of the UK government, welcomed the proposal but warned that its supporters had to be sure that setting up a publicly funded bank would increase the total borrowing available to the government.
The total borrowing capacity for the fund, where it remains an attractive investment, varies with HCL maturity but for maturity periods over 15 years, it seems unlikely to be viable for lower-income patients.
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The Frankfurt-based lender said on Wednesday, a day after banks were invited to bid for the loans, that 800 financial institutions had borrowed a total of €529.53bn, in line with market forecasts, taking the total borrowed under the LTRO to more than €1trn.
Calculate your interest payment (if an interest-only loan period) by multiplying your interest rate by the total borrowed (or drawn).
Separately, the Chase Man hattan Bank warned over the weekend that the deficit in the Federal budget in the fiscal year beginning next month could well range between $4‐ billion and $10‐billion, (rather than the $1.3‐billion projected by the Administration) and that total borrowing by the Treasury and the Federal credit agencies could hit $20‐billion in the next six and one‐half months.
The latest figures from the ONS showed total borrowing for the financial year so far, beginning in April, was the lowest for 16 years.
The Office for Budget Responsibility has forecast that the UK's total borrowing for the financial year 2012/13 will decline after a series of one-off items are added to tax receipts, including the expected £4.5bn profit from the sale of 4G mobile phone licences.
The Treasury Department said it would initiate emergency measures on Friday to keep the federal government's total borrowing under the maximum allowed by law, as Congress continues to debate the terms of any increase in the debt ceiling.
The increase in total borrowing has been modest.
Mr Brown plans to return to the traditional approach which would imply total borrowing over the next five years some £3.75 billion above the figure forecast in the 1996 budget.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com