Written question asked by Dai Davies (Independent (affiliation)) on Thursday, 25 March 2010, in the House of Commons. It was due for an answer on Monday, 29 March 2010. It was answered by Sarah McCarthy-Fry (Labour) on Tuesday, 30 March 2010 on behalf of the Treasury.

Banks: Loans

Question: To ask the Chancellor of the Exchequer pursuant to the Financial Statement of 24 March 2010, Official Report, column 258, how much of the £94 billion of new business loans will be provided by (a) RBS and (b) Lloyds TSB; and what steps he plans to take should either bank not meet its loan targets.

Answer: For the second year of the Lending Commitments, Lloyds Banking Group have agreed to lend £44 billion to businesses, and RBS have agreed to lend £50 billion to businesses.If the Government's judgment is that either bank has failed to meet their lending commitments for year two, or has seriously breached the behaviours set out under their SME Customer Charters, the Government will inform UK Financial Investments, which will work with the remuneration committees of the relevant banks to determine the appropriate consequences of the breach of the year two commitments or the customer charters to the relevant executives.

Secondary information

Type: Written question
Reference: 508 c1035W; 325161
Session: 2009-10
Related items: Financial Statement
Wednesday, 24 March 2010
Parliamentary proceedings
House of Commons
Subjects: Banks Finance Loans
Link: View this Written question on www.publications.parliament.uk