BoE policymaker fears key credit tool will be too weak in a crisis

LONDON (Reuters) - The Bank of England's main tool to smooth out swings in bank lending is currently too small to jump-start credit in the event of another financial crisis, one of the central bank's top policymakers said on Friday.Martin Taylor, an external member of the BoE's Financial Policy Committee, said the countercyclical capital buffer (CCyB) which British banks are required to hold is too low to be able to generate significant extra lending after a crisis.The FPC is meant to raise the..