§ Mr. David Howellasked the Chancellor of the Exchequer (1) whether the loan facility of $500 million to which he referred in his statement to the House on 15th December, or some part of that facility, from the United States Treasury and the Federal Reserve is part of the existing $3,000 million swap facility granted by the United States of America;
(2) whether the loan facility of $350 million from the Bundesbank, or some part of that facility, to which he referred in his statement to the House on 15th December was partly or wholly available in any facility already negotiated with the Bundesbank.
§ Mr. Robert SheldonOf the $500 million from the United States, $250 million forms part of the existing $3 billion swap facility with the Federal Reserve: the other $250 million is a new facility with the United States Treasury. The $350 million standby arrangement with the Bundesbank similarly represents a wholly new facility.