Arab Today, arab today britain launches \funding for lending\ initiative
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Britain launches \'funding for lending\' initiative

Arab Today, arab today

Arab Today, arab today Britain launches \'funding for lending\' initiative

London - AFP

Britain\'s government on Friday launched an £80-billion ($123.7 billion, 102 billion euros) initiative to provide the banking sector with cheap funding to stimulate lending and boost growth. The Treasury said in a statement that its \"funding for lending\" programme, which was unveiled last month, would lift lending to households and businesses and ward off a tightening credit squeeze amid the ongoing eurozone debt crisis. \"Today\'s announcement aims to make mortgages and loans cheaper and more easily available, providing welcome support to businesses that want to expand and families aspiring to own their home,\" said finance minister George Osborne. He added the move would \"inject new confidence into our financial system and support the flow of credit to where it is needed in the real economy -- showing that we are not powerless to act in the face of the eurozone debt storm\". Under the scheme, banks and building societies are allowed to borrow from the Bank of England for up to four years. As security, they will have to provide assets like business or mortgage loans. Banks will be eligible to borrow during the 18 months from 1 August 2012 until 31 January 2014. The Treasury added that, if banks take funds equivalent to five percent of their current stock of loans, an extra £80 billion of credit will flow into the British economy. The scheme aims to free up the log jam in credit hitting the economy, by offering banks cheap finance on the condition they pass it on to borrowers. It is hoped that this will help clear the blockage in credit lines which has hampered the country\'s recovery from the 2008 global financial crisis.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain launches \funding for lending\ initiative Arab Today, arab today britain launches \funding for lending\ initiative

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today britain launches \funding for lending\ initiative Arab Today, arab today britain launches \funding for lending\ initiative

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday