15 Jun '12, 2pm

If Bank of England has £80bn of loans available why not push some of them through under-powered Green Investment Bank?

The Bank of England has been authorised to plough a minimum of £5bn a month in printed money into UK banks in the form of six-month low interest loans made available through a so-called Extended Collateral Term Repo, in an attempt to bolster confidence that the government will support our banking through the Eurozone storm and, as such, they can start lending again. Meanwhile, a new "funding for lending" scheme will similarly offer an estimated £80bn in three-to-four-year low interest loans to UK banks in yet another desperate attempt to get our recalcitrant bankers lending to businesses and prospective home buyers. But, as expertly explained today by the BBC's Robert Peston, there is no one for the banks to lend to even if they wanted to. They are understandably reluctant to run down their cash positions, given the events of 2008 and the continued uncertainty surrounding ...

Full article: http://www.businessgreen.com/bg/james-blog/2184842/bank-e...

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