Tuesday, October 29, 2013
Goldman Wins UK in Carney Raffle
As of August 2013, loans outstanding to UK residents from banks were Ã‚Â£2.4tn (160 per cent of GDP). Of this, 34 per cent went to financial institutions, 42.7 per cent went to households, secured on dwellings, and another 10.1 per cent went to real estate and construction. Manufacturing received 1.4 per cent of the total. UK banking is a highly interconnected machine whose principal activity is leveraging up existing property assets.