The Zhitong Finance App learned that, according to Bank of England filings, commercial banks in the UK are increasingly pledging high-risk assets — such as high-interest department store credit cards and loans related to car rental — to the Bank of England as collateral. According to central bank data, in the six-month weekly auction of funds on August 18, banks pledged £1.9 billion worth of collateral in the highest risk category. This is the highest weekly level since March 2020, and has tripled from the previous week.

The Zhitong Finance App learned that, according to Bank of England filings, commercial banks in the UK are increasingly pledging high-risk assets — such as high-interest department store credit cards and loans related to car rental — to the Bank of England as collateral. According to central bank data, in the six-month weekly auction of funds on August 18, banks pledged £1.9 billion worth of collateral in the highest risk category. This is the highest weekly level since March 2020, and has tripled from the previous week.