King confirms continued support for banks

Mervyn King, the governor of the Bank of England, assured the City of London's beleaguered banks that he would continue to allow them access to funds after the Special Liquidity Scheme closes next month.

King reiterated Thursday that the window for swapping assets through the Special Liquidity Scheme would close in late October, but said that the Bank would alleviate any resultant pressures by continuing to provide banks with short-term funds.

The Bank would, he said, "set out arrangements to

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