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Following a period of discussion between the Government and the major UK banks1 known as ‘Project Merlin’, a statement was made by the banks on 9 February 2011.
Published on
02 February 2012
As part of that, the banks stated a capacity and willingness to lend £190 billion of new credit to businesses in 2011, with £76 billion of this lending capacity allocated to small and medium-sized enterprises. If demand exceeds this, the banks committed to lend more.
Press release