Monday, June 3, 2013

We are Banks, give us Money

Banks cut loans again, in spite of Funding for Lending

"Banks in the UK have continued to reduce the amount they lend out, in spite of government attempts to reverse the trend. Latest figures from the Bank of England show that net lending fell by £300m in the first three months of 2013. However, the figure is a big improvement on the previous quarter, when lending fell by £2.4bn".

Posted by alan @ 10:33 AM (2998 views)
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6 thoughts on “We are Banks, give us Money

  • Is this banks being tight – or businesses not wanting to borrow?

    After all, you would not want to be starting up a high street business at the moment….

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  • mark wadsworth says:

    HPW, read the title: “We are banks, give us money” it doesn’t say anywhere that they’ll give anybody else money, does it?

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  • HPW, read the title: “We are banks, give us money” it doesn’t say anywhere that they’ll give anybody else money, does it?

    Ah, so banks being tight then!

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  • I can tell you from first hand experience that it is banks not wanting to lend to small businesses – unless the business has property it can use as collateral.

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  • Big businesses, which have cash reserves and don’t need to borrow, would supply the demand if it were there. Inadequate aggregate demand, caused by indebtedness, is the source of the problem.

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  • @4&5

    Absolutely.

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