belfasttelegraph

Monday 20 May 2013

Watchdog says banks should use reserves

A new Bank of England financial watchdog has said the outlook had not changed sufficiently in the last three months for it to alter its policy recommendations.

The Financial Policy Committee (FPC) said in June that banks could temporarily run down short-term cash set aside for future market shocks in a bid to stimulate growth. The FPC said financial stability had not altered since June and maintained all recommendations.

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