BoE eases rules for banks requesting short-term cash

Bank of England Governor Mark Carney has announced a plan to relax rules for banks in need of short-term cash. The plan allows banks to use lower-grade collateral to access funds from the central bank and receive money more cheaply. "Five simple words describe our approach: We are open for business," Carney said. He says the financial system must become more resilient for London to remain a global financial hub.

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