British banks are rising today after the government indicated that it plans to inject liquidity into the banking system amid turmoil in the euro zone, as the Wall Street Journal reported on Thursday. The move could also help spur lending to British households.
The UK government will offer loans to banks at interest rates that are below market rates, and activate an emergency liquidity facility to offer six-month loans, the report said.
Royal Bank of Scotland (RBS) jumped 7.8%. Barclays (BCS) was up 3.4%, and the Bank of Ireland (IRE) rose 3.1%. Lloyds Banking Group (LYG) rose 4.1%.
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