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BoE auctions to be held weekly

The Bank of England is set increase the size and number of auctions it holds to help cash strapped lenders.

From Monday it will hold auctions of £40bn worth of three month money weekly rather than monthly.

The BoE is also increasing the term of its existing operations to lend US dollar funds against collateral eligible in the Bank’s short-term repos and US Treasuries.

An operation to lend $30bn of funds for one week will take place today, alongside an operation to lend funds overnight.


Financial recruits club members

Mortgage network Financial is recruiting packagers and brokers to its recently created mortgage club.

Peter Mann appointed CDO at Skandia

Peter Mann is stepping down in his role as head of Bankhall as he takes up the role of chief development officer at parent group Skandia UK.


More from Key Retirement Partnerships’ managing director Terry Pritchard, this time his reaction to news that Stuart Wilson of Equity Advice was offering brokers 100 more per case than KRS.

B&B taken into public ownership

Bradford & Bingley’s direct channels and retail deposits have been transferred to Abbey, following B&B being placed into public ownership by the Treasury.

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White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.


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