FLS pays out 61b

 FLS pays out £61bn

New figures show that banks have tapped the Bank of England for £60.6bn of cheap funding over the last four years. The BoE said that banks used the Funding for Lending Scheme (FLS) to draw another £2.87bn in the three months to June, with Lloyds Banking Group and Santander accounting for £1bn each. The Bank updated the scheme this month in an attempt to skew the benefits to banks lending to small businesses.

Source:   The Times (02/09)