Barclays admits borrowing hundreds of millions at Bank's emergency rate | | Guardian Unlimited Business

Barclays admits borrowing hundreds of millions at Bank's emergency rate | | Guardian Unlimited Business: "Barclays has been forced to borrow hundreds of millions of pounds from the Bank of England's emergency lending facility for the second time in a fortnight, it was revealed last night. In a hurried and emotive statement after London's markets had closed, Barclays attempted to calm fears that it faces a cash crisis. Rumours had circulated all day that Barclays was forced to go to the Bank of England after the central bank said it had lent �1.6bn at its penal rate of 6.75%. It is thought that Barclays borrowed the entire amount."