BoE reveals £300 million drop in FLS lending
The Bank of England (BoE) today revealed that banks participating in its funding for lending scheme (FLS) reduced their net lending by £300 million in the first quarter of 2013 – an improvement on the £2.4 billion drop in the last three months of 2012, but still a disappointing result for a scheme aimed at boosting lending.
During the quarter, 13 of the participating 40 banks tapped the scheme for £2.6 billion of funding, pushing the total amount drawn to £16.5 billion since its inception.
The
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