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The Funding for Lending Scheme

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  • Churm, Rohan

    ()
    (Bank of England)

  • Radia, Amar

    ()
    (Bank of England)

  • Leake, Jeremy

    ()
    (Bank of England)

  • Srinivasan, Sylaja

    ()
    (Bank of England)

  • Whisker, Rishard

    ()
    (Bank of England)

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    Abstract

    The Bank of England and HM Treasury launched the Funding for Lending Scheme (FLS) in order to encourage lending to households and companies. The FLS offers funding to banks and building societies for an extended period. And it encourages them to supply more credit by making more and cheaper funding available if they lend more. Easier access to bank credit should boost consumption and investment by households and businesses. In turn, increased economic activity should raise incomes. Early signs have been encouraging, as funding costs for UK banks have fallen sharply. But it will be some time before the impact of the FLS on lending is clear. The Bank is monitoring a range of indicators in order to assess the direct and indirect impacts of the Scheme.

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    File URL: http://www.bankofengland.co.uk/publications/Documents/quarterlybulletin/qb120401.pdf
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    Bibliographic Info

    Article provided by Bank of England in its journal Bank of England Quarterly Bulletin.

    Volume (Year): 52 (2012)
    Issue (Month): 4 ()
    Pages: 306-320

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    Handle: RePEc:boe:qbullt:0088

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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    1. Butt, Nicholas & Domit, Silvia & McLeay, Michael & Thomas, Ryland & Kirkham, Lewis, 2012. "What can the money data tell us about the impact of QE?," Bank of England Quarterly Bulletin, Bank of England, vol. 52(4), pages 321-331.
    2. Joyce, Michael & Tong, Matthew & Woods, Robert, 2011. "The United Kingdom’s quantitative easing policy: design, operation and impact," Bank of England Quarterly Bulletin, Bank of England, vol. 51(3), pages 200-212.
    3. Button, Richard & Pezzini, Silvia & Rossiter, Neil, 2010. "Understanding the price of new lending to households," Bank of England Quarterly Bulletin, Bank of England, vol. 50(3), pages 172-182.
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    Cited by:
    1. Chowla, Shiv & Quaglietti, Lucia & Rachel, Lukasz, 2014. "How have world shocks affected the UK economy?," Bank of England Quarterly Bulletin, Bank of England, vol. 54(2), pages 167-179.
    2. Butt, Nicholas & Domit, Silvia & McLeay, Michael & Thomas, Ryland & Kirkham, Lewis, 2012. "What can the money data tell us about the impact of QE?," Bank of England Quarterly Bulletin, Bank of England, vol. 52(4), pages 321-331.
    3. Alphandary, Alice, 2014. "Risk managing loan collateral at the Bank of England," Bank of England Quarterly Bulletin, Bank of England, vol. 54(2), pages 190-201.
    4. Butt, Nick & Pugh, Alice, 2014. "Credit spreads: capturing credit conditions facing households and firms," Bank of England Quarterly Bulletin, Bank of England, vol. 54(2), pages 137-148.
    5. Hills, Robert & Hoggarth, Glenn, 2013. "Cross-border bank credit and global financial stability," Bank of England Quarterly Bulletin, Bank of England, vol. 53(2), pages 126-136.
    6. Bunn, Philip & Le Roux, Jeanne & Johnson, Robert & McLeay, Michael, 2012. "Influences on household spending: evidence from the 2012 NMG Consulting survey," Bank of England Quarterly Bulletin, Bank of England, vol. 52(4), pages 332-342.

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