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SME forbearance and its implications for monetary and financial stability

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  • Arrowsmith, Martin

    ()
    (Bank of England)

  • Griffiths, Martin

    ()
    (Bank of England)

  • Franklin, Jeremy

    ()
    (Bank of England)

  • Wohlmann, Evan

    ()
    (Bank of England)

  • Young, Garry

    ()
    (Bank of England)

  • Gregory, David

    ()
    (Bank of England)

Abstract

This article presents the results of an investigation into the extent of loan forbearance in the SME sector and its implications for productivity and financial system resilience. Around 6% of SME borrowers were estimated to be in receipt of some form of loan forbearance in March 2013. This accounted for around 14% of the major five UK banks’ exposure to this sector. SME forbearance appears to account for only a small proportion of the weakness in aggregate UK productivity and also seems unlikely to threaten financial system resilience.

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Bibliographic Info

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

Volume (Year): 53 (2013)
Issue (Month): 4 ()
Pages: 296-303

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Handle: RePEc:boe:qbullt:0117

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  1. Farag, Marc & Harland , Damian & Nixon, Dan, 2013. "Bank capital and liquidity," Bank of England Quarterly Bulletin, Bank of England, Bank of England, vol. 53(3), pages 201-215.
  2. Tucker, Paul & Hall, Simon & Pattani, Aashish, 2013. "Macroprudential policy at the Bank of England," Bank of England Quarterly Bulletin, Bank of England, Bank of England, vol. 53(3), pages 192-200.
  3. Joe Peek & Eric S. Rosengren, 2005. "Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan," American Economic Review, American Economic Association, American Economic Association, vol. 95(4), pages 1144-1166, September.
  4. Ricardo J. Caballero & Takeo Hoshi & Anil K. Kashyap, 2006. "Zombie Lending and Depressed Restructuring in Japan," NBER Working Papers 12129, National Bureau of Economic Research, Inc.
  5. Murphy, Emma & Senior, Stephen, 2013. "Changes to the Bank of England," Bank of England Quarterly Bulletin, Bank of England, Bank of England, vol. 53(1), pages 20-28.
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Cited by:
  1. Barnett, Alina & Chiu, Adrian & Franklin, Jeremy & Sebastia-Barriel, Maria, 2014. "The productivity puzzle: a firm-level investigation into employment behaviour and resource allocation over the crisis," Bank of England working papers 495, Bank of England.
  2. Rebecca Riley & Chiara Rosazza Bondibene & Garry Young, 2013. "Productivity Dynamics in the Great Stagnation: Evidence from British businesses," Discussion Papers 1407, Centre for Macroeconomics (CFM), revised Apr 2014.
  3. Nelson, Benjamin & Tanaka, Misa, 2014. "Dealing with a banking crisis: what lessons can be learned from Japan’s experience?," Bank of England Quarterly Bulletin, Bank of England, Bank of England, vol. 54(1), pages 36-48.
  4. Barnett, Alina & Batten, Sandra & Chiu, Adrian & Franklin, Jeremy & Sebastia-Barriel, Maria, 2014. "The UK productivity puzzle," Bank of England Quarterly Bulletin, Bank of England, Bank of England, vol. 54(2), pages 114-128.

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