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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Brown plays down fresh bail-out for banks AFP - 1 hour 1 minute ago LONDON (AFP) - - Prime Minister Gordon Brown played down the prospect of injecting more state cash into struggling banks in an interview Sunday, amid fears that October's bailout has failed to boost credit flows. Speaking to the Observer newspaper, Brown said the government was determined to create conditions for banks to resume lending, but giving more cash to financial institutions "is not the first thing on any agenda". The Bank of England warned in its quarterly credit conditions survey Friday that despite government action, the country's banks plan to further cut back on lending to individuals and businesses over the next three months. Reports suggest Chancellor of the Exchequer Alistair Darling is considering a package of new measures, which may include gathering up banks' bad loans into a new entity, or exchanging them for government bonds. Treasury officials have previously stated that they would monitor the effects of October's 37-billion-pound (47-billion-euro, 64-billion-dollar) bail-out of three British banks, and take further action if necessary. "Clearly we have banks that were willing to take large numbers of risks a year or two ago and people are now averse to risk, so we have got to create the conditions in which it's possible for banks to resume lending," Brown said. Asked about any further recapitalisation plans, he said: "That is not the first thing on any agenda. The more important thing is getting the resumption of lending by other means." Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Enlarge Photo Prime Minister Gordon Brown, pictured here in December 2008, played down the prospect of injecting more state cash into struggling banks in an interview Sunday, amid fears that October's bailout has failed to boost credit flows. Most Popular – Top Stories Viewed Rare Bugatti untouched for 50 years could fetch millions: report World's oldest person dies at the age of 115 US steel industry in collapse, eyes government aid: report Vogue editor biggest fashion flop of 08: Time Paulson blames global imbalances for credit crisis: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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