Lloyds /HBOS agree to additional £9Bn of business lending this year 10.03.2009

Author: David Whittaker Posted on: 10 March 2009

The deal was finally concluded over the weekend (7 and 8 March) in which some £260Bn of "assets" were moved into the APS and the Gov't stake in the lender moved to 65% and the lender committed to an additional £9Bn of business lending and £3Bn of additional mortgages (residential mortgages and Buy To Let mortgages).

Welcome news, at least in theory, and when added to the commitmenbts also made by RBS there should be some relief in sight for some businesses. Our concern is that previous supplies of liquidity - see our web page - have mysteriously failed to materialise at the SME level and is there any "audit trail" to ensure that previous mistakes are not repeated.

We are going to "track" as best we can the outcomes on the other latest Gov't initiative - Asset Purchase Facility (APF) and keep you updated on both the web and this blog !!!!

Author: David Whittaker