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Funding for Lending Scheme to be extended by a year

25 April, 2013

It was announced this week the the Funding for Lending Scheme is to be extended by one year.

Launched in July last year, the FLS was designed to incentivise banks and building societies to boost their lending to the UK real economy.

The extension has three main objectives:

1) Give banks and building societies confidence that funding for lending to the UK real economy will be available on reasonable terms until January 2015

2) Iincrease the incentive for banks to lend to small and medium-sized enterprises both this year and next

3) Include lending involving certain non-bank providers of credit, which play an important role in providing finance to the real economy.

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