Funding for Lending Scheme

BoE governor Mervyn King and Chancellor George Osborne jointly announced the “funding for lending” scheme last month, under which the UK’s central bank will give lenders cheap loans if they then in turn lend to cash-strapped companies.

The central bank could make £80bn available if High Street banks increase lending by 5pc.

“League tables” ranking banks by how much they lend are likely to be published every three months.