Phil Boswell – 2015 Parliamentary Question to the HM Treasury

The below Parliamentary question was asked by Phil Boswell on 2015-12-10.

To ask Mr Chancellor of the Exchequer, whether the Bank of England is able to recover funds lent under the Funding for Lending Scheme from small and medium-sized enterprises which have subsequently defaulted on the loan.

Harriett Baldwin

The Bank of England does not lend directly to small and medium sized enterprises as part of the Funding for Lending Scheme (FLS). Under the FLS, the Bank of England provides funding to UK banks and building societies participating in the scheme. The amount of funding participant banks and building societies are eligible to borrow from the Bank of England is determined by their net lending to certain sectors of the economy.