13 lenders sign up to Funding for Lending scheme

Between them, they represent 73% of the market and £1.2 trillion worth of lending. The 13 banks and building societies that have signed up are: Aldermore, Barclays, Hinckley & Rugby Building Society, Ipswich Building Society, Kleinwort Benson, Leeds Building Society, Lloyds Banking Group, Monmouthshire Building Society, Nationwide Building Society, RBS Group, Santander and Virgin Money. HSBC is probably the most notable bank missing from the list, but reports suggest they do not need the funds. Paul Fisher, the Bank of England's executive director for markets, is quoted as saying: "I am confident that the Funding for Lending Scheme will help the supply of credit. "Before its introduction, it was more likely than not that the stock of credit would contract further over the next 18 months." September 28, 2012