50-billion pound mortgage plan to be unveiled
The government will try to ease the effects of a credit crunch on borrowers by unveiling plans on Monday to swap government bonds worth 50 billion pounds for banks’ riskier mortgage debt.
Bank of England liquidity boost for banks’ mortgage debt (Daily Telegraph)
High street banks welcomed the Bank of England’s 50bn injection of capital into the market to increase liquidity but some warned that the final figure could be far higher
Bank of England to detail mortgage plan
The Bank of England will unveil today a plan to swap government bonds for commercial banks’ mortgage debt in an effort to unblock the home loan market and ease the effects of the credit
Struggling homeowners could get new government-backed loans (Las Vegas Sun)
Tue, Apr 22, 2008 (12:42 a.m.) Homeowners staggering under mounting mortgage debt and facing foreclosure could get cheaper, government-backed loans under Democrats’ housing rescue plan.