British banks want to borrow more

UK banks have asked for a sharp increase in their borrowing facilities at the Bank of England, the Financial Times has reported.

The Financial Times said that banks have requested to be able to keep total reserves of £23.5 billion ($46.5 billion) on deposit at the central bank, up from the figure of almost £20 billion on deposit.

Banks can borrow from the deposit, which earns interest, if they find interbank lending too expensive.

The Bank made no public comment but the Financial Times said se

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