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‘Give us the cash and we will lend it out’
quantitaTive easing funding from the Bank of England should be given to medium-level lenders like building societies rather than the big banks, says a Yorkshire finance leader.
Leeds Building Society chief executive Peter Hill said big banks are holding onto the cash whereas mid-level lenders would more easily release the funds through lending.
He told the YEP: “If we had access to that funding we would lend it.”
He said the big banks were “restrained by capital” and so limited their lending.
Mr Hill said medium-level lenders had had “discussions” with the Bank of England on the matter.
High street banks have been criticised for allegedly not lending enough to fund investment, which banks deny.
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Saturday 26 May 2012
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