Thursday, Apr 02, 2009
More bank lending but margins are increasing
The Times: British banks expect to increase lending
More banks expect to boost credit availability than to reduce it in the next three months, the Bank found in its closely watched survey of banker intentions. The new Credit Conditions Survey also found that margins on loans to people and businesses had widened considerably and banks expect them to continue widening. Default rates rose in the past three months and are expected to continue rising.
Posted by wanderinman @ 08:58 PM (662 views) Add Comment
5 Comments
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1. wanderinman said...
The Credit Conditions Survey itself can be found here:
http://www.bankofengland.co.uk/publications/other/monetary/creditconditions.htm
2. inflation is eating my savings said...
dead cat or 7th or 8th life?
3. enuii said...
Mmmm, base rate 0.5% bank loan rates (LTSB personal) 9.9%. So yes credit is available if you want to pay inflated interest rates for it, on the flip side if wages are stagnant or falling no ammount of rate cutting or money printing will make people willingly increase the financial burden they have to carry especially when the only way interest rates are going to go is up.
PS. Who would have thought that that 1980's Yazz classic 'the only way is up' would contain prophetic lyrics.
We been broken down, the lowest turn, and being on the bottom line sure ain't no fun, but if we should be evicted from our homes we'll just move somewere else and still carry on. The only way is up, baby, for you and me baby, the only way is up, Now we may not known where our next meal is coming from but with you by my side I'll face what is to come. Boy, I wanna thank you for loving me this way things may be a little hard now but we'll find a brighter day.
4. inflation is eating my savings said...
enuii...
thanks for reminding me about that "classic".
If I were s2r1 I would be suggesting that the song was used the last time we were beginning to take economic flak (1988?).
Or the time of the party where everyone is wobbling and listing to the side, but the drug (not their body or common sense) is telling them to carry on. The song does have that "after the thrill has gone let's have another try" thing going on. But with a bit of perpetual motor in the rhythm- but this was generally used in Baroque times as a finale.........
For what it is worth, I think it's an attempt at a 10th life. It will be interesting to see how this plays out.
5. paul said...
The credit conditions survey eh? Not heard much from that for ... well ... ever really.
A case of "manipulating expectations" perhaps?