UK corporate borrowers this week expressed alarm at the growing level of ancillary business demanded by banks in return for the provision of loan facilities and revealed the extent to which the dynamic between borrower and lender changed as credit contracted over the crisis.
"I understand that lending has always been a loss leader for the banks, and that they need ancillary business to demand returns," said one treasurer at a UK industry conference. "But during our recent refinancing, the pressure from every bank for ancillary business was incredible. There really is
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