Lloyds / HBOS fell on the sword finally and gave up some £260Bn of "assets" into the APS and in return found UKFI now owning 65% of its shares and a commitment to increase its proposed mortgage lending from £9Bn to £12Bn this year. The split between pure residential mortgages and Buy To Let mortgages has not been defined but a cynic might argue for a bias towards the former group as that is where votes in any upcoming general election would lie.
An additional £9Bn is also promised to business lending but the challenge as with all these things is proving the benefit ie borrowers actually finding it easier to obtain credit.
You can follow developments on our quantitative easing updates and views page.
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