Banks act to get business lending moving

Proposals to stimulate the private sector recovery in the economy were set out today in a letter to Chancellor George Osborne from BBA chairman Stephen Green.

Mr Green said that the chief executives of the UK's high street banks were to guide a series of work streams designed to identify barriers to businesses securing finance and which will also make constructive suggestions about how the issues may be addressed.

The four work streams are:

1. market analysis and understanding;
2. securitisation and funding;
3. business finance and business aid and SME issues; and
4. trade finance.

The groups will be made up of respresentatives of the banks plus members from the Treasury, BIS and the Bank of England.

For further information, please contact:
BBA Press Office (020 7216 8989)
Out of hours (020 7216 8888)

Notes to Editors

Please a copy of the letter via the link below.