Which of the following is a key duty of the Bank of England in relation to the banking sector?

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Providing support to banks facing financial difficultiesConducting audits of government agencies and departmentsExtending loans to allied foreign nationsIssuing new government bonds to fund the Public Sector Borrowing Requirement

Explanation

The Bank of England plays a crucial role in stabilizing the banking system by offering assistance to banks experiencing financial distress. It does not audit government bodies, lend money to other countries, or issue bonds to finance government borrowing.