Banks: Loans
Treasury
Ashok Kumar (Middlesbrough South and East Cleveland, Labour)
To ask the Chancellor of the Exchequer what assessment he has made of trends in levels of bank lending in the last six months.
Sarah McCarthy-Fry (Parliamentary Secretary, HM Treasury; Portsmouth North, Labour)
In November 2008, the Chancellor set up a lending panel to monitor lending to the UK economy, and to promote best practice across the industry in dealing with borrowers facing financial difficulties. The Bank of England collects data covering aspects of lending to the UK corporate and household sectors on behalf of the lending panel and publishes a monthly trends in lending report. These reports provide an assessment of the latest developments in lending to the UK economy. The first report was published in April and the most recent report is available at:
http://www.bankofengland.co.uk/publications/other/monetary/trendsinlending.htm