Flagship British Scheme Fails To Boost Bank Lending
Britain’s flagship scheme to encourage banks to pump more credit into the economy failed to boost lending in its first year, data showed, as banks focused on meeting tougher capital demands from regulators instead. However banks using the scheme expect lending to individuals and businesses to pick up over the rest of this year as economic conditions start to improve, the Bank of England said on Monday. The government launched the Funding for Lending Scheme (FLS) in July 2012 as part of its efforts to lift the economy out of recession.
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