Bunhill: Crest

Saturday 02 October 1993 23:02 BST

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SMACKED bottom for Bunhill from the Bank of England. I said last week that the Bank's newsletter on its CREST project - which is examining the future for share settlement in the City - referred to CREST no fewer than 21 times without once explaining what it stood for.

It doesn't stand for anything, explains a Bank official, despite spelling it with capital letters. 'It's just a name.' Like the toothpaste.

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