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koala_bear

Bba Oct 2013 Data

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BBA Oct 2013 data out this morning but not that widely reported:

http://www.bba.org.uk/media/article/october-2013-figures-for-the-high-street-banks

Lending seems to have improved on last month which was a slight downward blip.

Gross Lending is back +ve on an NSA basis [0.1%] or -ve on an SA basis that they use for their graphs/reports ;)

Repayment of capital: £10,511m just below last month post boom record...

Average loan for home purchase £156,398 with # loans for Housing purchase at 50,623, 7k more than last month and the highest level since October 2007

Average re-mortgaging loan value £150,400 this year has the 4 highest values ever.

Total Loan outstanding showing very little change up 0.1% mom but averaging down 0.25% YTD

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The lending data for October was pretty weak overall which means we're still getting mixed messages on the supposedly strong UK recovery.

I think we'll have to wait for the BoE numbers on Friday to get a clearer picture of mortgage approvals. The BBA NSA mortgage approvals for house purchase were high at 50,623 but the SA number was only 42,808 – down on September and 2,000 lower than market expectations.

The rate of personal deposit growth has been weakening for several months but is beginning to level off.

Here's a quick chart I've done which plots BBA personal deposit growth with the periods of QE highlighted:

BBA_deposits_QE_Oct2013.gif

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Good stuff as always.

Mortgage lending growth rate still on a very gradual negative turn, now -0.3%. Personal loan balances look to have stabilised with the monthly issuing of about £1.3 Bn of loans enough to sustain a personal loan book of £33Bn or so.

Credit card debt is a concern, it has been moving higher of late and is at approximately all time highs at present. Whether the right sorts of risks are getting the debt remains to be seen. The growth rate of cc debt is softening however.

Mortgage gross loans and repayments are both high, suggests a lot of activity relating to the ending of fixed rate discounted periods? Remortgaging numbers are quite high relative to the rest of the year.

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