BoE reports challenging wholesale market conditions
Major UK lenders reported challenging conditions in longer-term wholesale funding markets during the fourth quarter of 2011, according to the Bank of England's Trend in Lending report published on January 20.
Lenders reported that higher wholesale bank funding costs were feeding through somewhat to loan pricing on new business for some corporates but had not yet significantly affected mortgage pricing. Some lenders noted that senior unsecured debt markets were virtually closed and spreads in
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