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UK Banks Expect Corporate Loan Availability To Shrink Most Since Early 2008: BoE

UK lenders expect the availability loans to the corporate sector to fall in the next three months to end-November, at the fastest rate since early 2008, survey data from the Bank of England showed on Thursday.

Bank expect the availability of credit provided to the corporate sector to fall 13.5 percent in the next three months, which is the worst decline since the first quarter of 2008, when they forecast a 30.7 percent slump, data from the Credit Conditions Survey showed.

Lenders expect the availability of secured credit for households to increase over the next three months to end-November, the report said. Availability of unsecured credit is expected to remain unchanged.

Demand for corporate lending from small businesses is expected to remain unchanged, but that from medium and large businesses is expected to decrease.

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