BBA welcomes government action

The British Bankers' Association (BBA) welcomes this package of measures aimed at returning stability to the market. While important for the three banks in question it is also an essential element in getting the inter-bank lending market moving although it will take a little time for these measures to work through. We are pleased that other governments in Europe and elsewhere will now follow the lead taken by the UK. We also hope taxpayers need to hold a stake in our banks for as short a time as possible