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Banks: Government Assistance

Volume 486: debated on Thursday 22 January 2009

To ask the Chancellor of the Exchequer pursuant to the oral statement of 19 January 2009, on financial markets, by what authority he has authorised the Bank of England to create the £50 billion fund to purchase corporate assets from banks. (250206)

Arrangements for the Debt Management Office (DMO) to make finance available to the Bank of England are set out in paragraph 6.9 of the Debt and Reserves Management Report 2008-09.