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In its Financial Stability Report, published today, the Bank of England has decided to call time on the Funding for Lending scheme, the mechanism by which it supported bank loans to consumers. In its report, the Bank stated that: “the Bank and HM Treasury have decided to modify the Funding for Lending Scheme to remove direct incentives to expand household lending in 2014.”

The report went on to describe the change by saying that it did “not intend to extend its temporary policy of allowing banks that increase household lending eligible in the Funding for Lending Scheme (FLS) to claim…

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