UK loans £100m to Icelandic bank
Updated on 13 October 2008
A stricken Icelandic bank has been loaned £100 million by the Bank of England to keep it operating while efforts are made to get UK creditors' money back, it was announced.
The loan, secured against assets of Landsbanki frozen by the British Government, is designed to ensure the institution can continue to operate in the short term.
Chancellor Alistair Darling announced the move in the Commons after meeting with the Icelandic Finance Minister in Washington at the weekend.
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