Brexit Concern Seen in Increased Bank Demand for BOE Cash: ChartBy
Banks’ demand for cash rose in the Bank of England’s third liquidity operation since Britons voted to leave the European Union. BOE Governor Mark Carney has increased the number of funding operations to avoid markets seizing up as investors assess the impact of the Brexit vote. At the auction of funds in exchange for collateral on Tuesday, banks were allotted 2.005 billion pounds ($2.6 billion).
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