Scheme to get credit to recession-hit economy begins
LONDON (Reuters) – Britain’s banks can start tapping into a new government programme to provide them with cheap funding designed to get more credit to flow through the recession-hit economy, the Treasury said on Wednesday. The scheme – which offers funding at below-market rates against a broad range of collateral if banks continue or extend lending to businesses and consumers – is likely to ultimately replace earlier credit easing schemes, the ministry said. . . .
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