LONDON: Global intervention should steady the banking system but it will also put big constraints on banks, the Bank of England (BoE) said yesterday, six months after it said it expected confidence to return to financial markets.
In its Financial Stability report, the BoE also said losses may be much less than markets calculate, reiterating a point it made in its April report – before the credit crunch spiralled into the worst financial crisis in living memory.
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