Jana Technology Services Blog

September 22, 2007

Barclays also need emergency loan

Filed under: Sales and Business Development,Technology — janats @ 12:01 pm

A “technical breakdown”   meant that Barclays Bank had to apply for an emergency £1.6 billion loan from the Bank of England.  Barclays blamed the ther eason on a malfunction with the Bank’s inter-settlement system, Crest.  This left the Bank temporarily unable to cover its positions in the market.

Concerns over liquidity in the global financial markets certainly seem justified with the admission of facts coming out of high street banks over the last month…

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