Bank warns of credit supply threat to economic fightback


	Bank warns of credit supply threat to economic fightback

JICWyllie

6-19-2009 9:15 AM

43 views

tags:

1-credit, 1-lack, 2-risks, 3-reported, 4-uk

JICWyllie says:

Similar difficulties are reported in the US.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/70e8de60-6400-481d-bcb5-a9e2e7d3d6d6/A031A7BE-0E51-4561-BE8A-CCFF7C1ED148/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.independent.co.uk/news/business/news/bank-warns-of-credit-supply-threat-to-economic-fightback-1708999.html" href="http://www.independent.co.uk/news/business/news/bank-warns-of-credit-supply-threat-to-economic-fightback-1708999.html" style="font-size: 11px;">www.independent.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bank-warns-of-credit-supply-threat-to-economic-fightback-1708999.html"><P>In its latest Lending Survey, the Bank said that the supply of credit to businesses had slumped to its lowest level since June 2000 during April, and that the major commercial banks had indicated to it that the situation had not improved during May. Over 80 per cent of firms surveyed by the Bank said that external financing had become more expensive or difficult to secure over the past year. Gross new loan facilities granted to corporates amounted to £7.9bn in May, down from £9bn in April and £12.6bn in March. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bank-warns-of-credit-supply-threat-to-economic-fightback-1708999.html"><P>Despite an injection of £90bn into the economy by the Bank of England, the flow of lending to businesses and home buyers remains extremely weak, threatening the economic recovery, according to the latest reports from the Bank of England and the Council of Mortgage Lenders. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bank-warns-of-credit-supply-threat-to-economic-fightback-1708999.html">What credit is available seems to be being made available only at a sharply increased cost, especially to those judged to be higher risks.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.independent.co.uk/news/business/news/bank-warns-of-credit-supply-threat-to-economic-fightback-1708999.html">Banks appear to have concentrated on improving their profit margins</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/A031A7BE-0E51-4561-BE8A-CCFF7C1ED148/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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