Basierend auf Bank of England Has to Desperately Come to the Rescue as Crisis Deepens
Die Bank of England (BoE) hat bisher zwar immer behauptet, sie würde keine Gelder für in Not geratene Institutionen zur Verfügung stellen - allerdings stellt sich die Frage, was mit den 314 Millionen Pfund pasiert ist, die die BoE am 20.8. über ihre "standing facility" einer oder mehreren Institutionen zu einem Zinssatz von 6,75% geliehen hat.
Ausserdem wurden sowohl am 2.7. als auch am 17.7. jeweils 1.93 Milliarden Pfund und 109 Millionen Pfund über diese "facility" verliehen. An "wohlhabende Bürger"?
Darüber hinaus wird in dem Bericht erwähnt, dass sowohl Solent Capital Partners LLP, ein englischer Hedge Fond, als auch HBOS Plc, der grösste englische Immobilien Finazierer, durch die jüngsten Unruhen an den Finanzmärkten in Schwierigkeiten geraten sind. Die HSBC hatte ja bereits in den vornagegenagen Wochen immer wieder für kleinere Schlagzeilen durch Verluste aus den Subprime-Kreditgeschäft vermeldet.
August 21, 2007 (LPAC)--While the Bank of England and the wealthy families behind it, position themselves to pick up the pieces and dominate the world in the aftermath of a systemic financial breakdown, it appears that the BOE's Mervyn King's claim that he would not pump out liquidity to save financial institutions, is not completely true. The speculation-driven City of London is very vulnerable.
The BOE reported Aug. 21, in its daily report on money market operations, that it lent 314 million pounds ($624 million) on Aug. 20 through its "standing facility" to one (or several) financial institution(s). The BOE charges a 6.75% interest rate to an institution, usually distressed, that borrows through this facility.
According to the BOE's website, on July 17, one or several institutions borrowed 109 million pounds ($217 million) through this facility, and on July 2, a considerable 1.93 billion pounds ($3.84 billion) were lent through this facility.
The Aug. 21 Bloomberg.com compiled a list of institutions which told that news service that they had not borrowed through the BOE standing facility; however, given the advancing breakdown of the financial system, intersecting the huge volumes of leverage and derivatives centered in the City of London, it is likely one or several of the financial institution did not tell Bloomberg the truth. Solent Capital Partners LLP, a U.K. hedge fund manager, said Aug. 20, it may be forced to sell assets in a unit after lenders refused to provide short-term funding. HBOS Plc, the U.K.'s largest mortgage lender, was forced to step in to repay a huge $35 billion of commercial paper owed by its Grampian Funding LLC unit, as contagion from the financial crisis, drove up the cost of borrowing.
Meanwhile, two UK insurance companies-- Brit Insurance, and British Insurance-- suffered falls in their stock prices Aug. 21 after it was reported that an insurance company in Britain was selling pounds in the money market, ostensibly to cover dollar losses. The rumors were that a British insurance company was in trouble, and it is possible that this may have gotten transposed into the names British Insurance or Brit Insurance, although deep problems in either of these companies cannot be ruled out.
Earlier this year, London- centered HSBC, one of the world's largest banks, experienced heavy losses in the U.S. mortgage market.
