BoE adds ECA-backed loans as acceptable collateral

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The Bank of England (BoE) today expanded its new Sterling Monetary Framework (SMF) to admit debt guaranteed by the UK's export credit agency (ECA) as collateral against which it will lend to UK banks.

The move is an extension of governor Mark Carney's promise last October that the Bank of England is "open for business". It will also allow the bank to claim it is supporting the ‘real economy' in the UK by encouraging more lending to importers of UK goods and services that benefit from UK Export F

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