June 12 - The Bank of England's arsenal looks weak compared with 3-year ECB loans, says Reuters Breakingviews.
I will without -- just breaking news UK banks Euro zone file war leads treasury help as one of the stories and wind Beijing's affecting base. For Goldman's new voice chat is the about with the media to discuss the stories Peter Paul Lawson. I'm you have to -- UK banks storage meet one years that the Central Bank in the UK cannot off as the ECB that's three money. When it could to but it worked -- commandment. And the reason it doesn't -- to do that the by -- and was criticized 2007 member of having an adequate liquidity facilities actually done a lot of work to retool its liquidity facility since then. And it's gonna ranges from fewer than banks and that are in trouble a range of options. But. What I haven't done is provide that -- a three year unlimited. Cheap money that's the recipe is provided. And the argument is that. If the year is and cracks priests -- -- and we have a freeze in the funding markets UK banks can actually be worse off. And your eyes and can't do it isn't it -- that I have such little but seemingly sizable force. What I saw that I have a little foresight and an embankment and trying to hold the line in terms of sort of some sort of principles of a Central Bank activity and that in the in in providing bank liquidity. And they -- their argument essentially is that providing a long term support the banking industries moment joke. And and actually that the case in a fortunate position because the government. Has very -- on youths and that the government can actually step in and help and so what we're saying is essentially. Grow on the by giving them to do and ECB type benefit if the funding markets freeze it freeze up to as the government which did in 2008 to provide 250 billion pounds. -- what -- called credit guarantees. Scheme to to basically -- guarantee. Wants to have Baghdad. And so risky saying that if things get bad and in the years and part of a sort of a contingency planning should be for the government to re launch this scheme. Okay and then this -- story from. Goldman's new vice Chad will be in Beijing. Now I use and use you make -- who makes this point I'm Beijing accident sport poised to open and grow the capital markets and those -- who will help like -- to be rewarded. Why is it once again -- stare -- that first mover advantage going in and being seen as the one who's going to be helping -- element. Systems. That's a good question -- at the units that dubious and see whether others feel the need to follow suit. I mean is in singles and -- Goldman is bringing back someone who's who in it was a long time part of their left -- 2001. And says kind of tomorrow untainted by everything that's happened with that Goldman and and in the banking industry really from the customs unit blunt opinions. But but they're putting in China I mean it's like he's going to be chairman says he's not like he's running much. -- and visit the sentence symbolism. And it was it's a big title and he will thank you probably. Open doors and in Beijing bear in mind that -- it Coleman unit needs to go to work on its relations in Beijing because they've been selling out of it's taken. -- NI CPC. Which is somewhat upset. And of that medical terms this is the on the front. Possibly yeah yeah -- -- it will be interesting to see whether out of banks feel the need now. To have Aaron kind of chairman type person in Beijing in order to to to compete -- -- and thanks that's a finale if you watch our US show. -- studies and every -- seventeen -- BS -- and of course on the mom I'm axles from sources.