For each group participating in the first part of the FLS, the drawdown window for which closed on 31 January 2014, this page shows the amount borrowed from the Bank, the net quarterly flows of lending to UK households and firms, and the stock of loans as at 30 June 2012.
The FLS incentivises banks to boost their lending by reducing bank funding costs. This allows banks to reduce the price of new loans and increase their net lending. But it takes time for reduced funding costs to feed through to lending volumes, given the typical lags involved in the loan application, approval and drawdown process. A box outlining developments in credit conditions since the launch of the FLS can be found on pages 14-15 of the May 2014 Inflation Report.
Usage and net lending data for the FLS Extension can be found here.
FLS usage and lending data1,
* This group chose to activate the option to include lending related to non-bank credit providers from Q2 2013. For further detail please see the Market Notice available here.
1 More detailed data are available here. Note that data may not sum to the total due to rounding. Data may be subject to revisions.
2 The FLS measure of lending covers drawn sterling loans to households and private non-financial corporations (PNFCs) by the FLS Group, which includes all UK resident monetary financial institutions and related specialist mortgage lenders within a group. For further details of the FLS measure of lending, refer to the Guidance Notes available here.
The Bank publishes an aggregate measure of lending to UK-resident households and PNFCs by all UK-resident monetary financial institutions and related specialist mortgage lenders using the same definitions as the FLS measure. This is available via the Bank’s Statistical Interactive Database, updated monthly on the same day as the Bankstats (Monetary & Financial Statistics) publication.