Banks: Loans

Treasury written question – answered on 30th March 2010.

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Photo of Dai Davies Dai Davies Independent, Blaenau Gwent

To ask the Chancellor of the Exchequer pursuant to the Financial Statement of 24 March 2010, Official Report, column 258, how much of the £94 billion of new business loans will be provided by (a) RBS and (b) Lloyds TSB; and what steps he plans to take should either bank not meet its loan targets.

Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Secretary, HM Treasury

For the second year of the Lending Commitments, Lloyds Banking Group have agreed to lend £44 billion to businesses, and RBS have agreed to lend £50 billion to businesses.

If the Government's judgment is that either bank has failed to meet their lending commitments for year two, or has seriously breached the behaviours set out under their SME Customer Charters, the Government will inform UK Financial Investments, which will work with the remuneration committees of the relevant banks to determine the appropriate consequences of the breach of the year two commitments or the customer charters to the relevant executives.

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Annotations

Ken Brookman
Posted on 6 Apr 2010 12:53 pm (Report this annotation)

Nice to know that .... pity the anonymous lot from Dai's party never bother to comment other than to say the answers are always wrong. They seem as valuable to this site as dai davies has been to his constituency. Not very valuable.