Net lending down despite FLS, Santander pays back £900m
The latest data on the Bank of England’s Funding for Lending Scheme showed that net lending since the start of the scheme is still down by £2.3bn overall, despite the first quarter of net lending growth. The data also showed that Santander UK had paid back £900m of funding drawn down through the scheme — as the bank admitted it was cheaper to fund in the wholesale markets, write Joe McDevitt and Nina Flitman.
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