Bank of England Wants to Offer Funds to Banks, Non-Banks For Longer, Cheaper

Expanding liquidity facilities

The Bank of England unveiled plans to expand the liquidity facilities for banks at lower cost so as to widen the scope of the financial system, central bank chief Mark Carney said late Thursday.

The BoE will accept wide range of assets as collateral and provide funds for longer term. Further, such facilities will be cheaper, he said at an even hosted by the Financial Times in London.