Treasury delivered fee bonanza for City advisers - papers

The biggest financial crisis in modern British history heralded an unprecedented bonanza in fees for City lawyers, accountants and advisers, according to the definitive assessment of Treasury spending on the bail-outs.

A report in The Telegraph, citing figures uncovered by the National Audit Office, reveals the Treasury paid £107m of taxpayer cash to City firms for their assistance over the past two years. Although it expects the banks to pay back £100m of the fees, it admits that, so far, not a penny has been reimbursed. Read more The Bank of England says it hopes to boost liquidity in the corporate bond market by selling, as well as buying, corporate bonds, reports The Times. The Bank signalled yesterday it will sell some of the assets purchased as part of its multibillion-pound scheme of quant...