Bank rate - What does this affect

xrjtg

Here's Wikipedia's offering, suggesting that banks can borrow at the base rate, provided they have the right sort of collateral.

VT82

True in theory, but the BoE doesn't exactly let banks borrow as much as they want, and roll this overnight facility for as long as they want. Plus they can apply as many conditions as they like, effectively withdrawing the overdraft.

In practice, they use different facilities, with higher rates, to lend money out to banks.