Forex Blog

December 31, 2009

UK Banks to Boost Mortgages in 2010

Encouraging words from the UK’s Central Bank that could be further proof of the impact of quantitative easing economic policy.

Central Bank of England BOE

Bank of England

Banks and other lenders were making more mortgages available to their customers in the final quarter of the year and are expected to further boost their offerings in the new year, the Bank of England said today.

In its latest quarterly Credit Conditions Survey, which asks lenders about credit conditions over the past three months, the Bank reported that respondents had said that the situation had become better because of the improved economic outlook and higher house prices.

Times Online

Iceland Approves 3.8bn Payment to UK and Netherlands

Iceland’s parliament has approved plans to repay 3.8bn euros (£3.4bn) to savers in the UK and the Netherlands.
The money will go to the British and Dutch governments, who partially compensated savers when the Icesave online bank failed. More than 320,000 savers lost out when the bank collapsed in 2008.
A bill on the measure, narrowly approved against strong opposition, was seen as crucial to Iceland’s bid to join the EU and rebuild its economy.

BBC

Powered by Efacilitators Hosting