BoE extends Funding for Lending Scheme
Banks get extra year of funding support for SME lending
The Bank of England (BoE) today revealed it will extend its Funding for Lending Scheme (FLS) for an additional year in the hope of providing relief to credit-constrained small and medium-sized enterprises (SMEs).
The FLS was launched in 2012, offering funding to banks in exchange for an increase in their lending activities. The scheme was refined in November 2013 to specifically target lending to SMEs, and was set to close in January 2015. It will now continue until January 2016.
Mark Carney
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