• cumulative FLS drawdown GBP 45.7 bln

Funding for Lending Scheme latest data from the Old Lady

One for Chris2 to enjoy. Loving the negative but ” less negative” slant in the notes below.

The Bank has today published data on the use of the Funding for Lending Scheme (FLS) showing, for each group participating in the FLS Extension, the net quarterly flows of lending to UK businesses and the amount borrowed from the Bank in the second quarter of 20141.

Participants in the FLS Extension are able to make drawdowns up to the end of January 2015. During the second quarter of 2014, 9 of the 36 groups participating in the FLS Extension made drawdowns of £3.2bn. Participants also repaid £0.8bn from the first stage of the FLS, taking total outstanding drawings to £45.7bn.

Net lending by FLS Extension participants to small and medium-sized enterprises (SMEs) was slightly negative in the second quarter of 2014, but at -£0.4bn was less negative than in previous quarters (Chart 1). Net lending to large companies was -£3.5bn. Net lending to all businesses, including eligible non-bank credit providers, was -£3.9bn

Full report here