Until now, the UK's central bank had kept details of the loans secret for fear of creating alarm in the markets. It announced the full scale of the loans to the Government's Treasury Select Committee, telling the hearing the combined borrowings of the banks - which were charged a fee for the facilities - peaked on October 17 last year. Both banks had paid back the cash by January, it said. John McFall, the chairman of the Commons Treasury Select Committee, said there had been an "intake of breath" when he and his colleagues saw the £61.6bn figure.
Until now, the UK's central bank had kept details of the loans secret for fear of creating alarm in the markets.
It announced the full scale of the loans to the Government's Treasury Select Committee, telling the hearing the combined borrowings of the banks - which were charged a fee for the facilities - peaked on October 17 last year.
Both banks had paid back the cash by January, it said.
John McFall, the chairman of the Commons Treasury Select Committee, said there had been an "intake of breath" when he and his colleagues saw the £61.6bn figure.
And that's even before tax policies are discussed. In the long run, we're all dead. John Maynard Keynes
