UK increases size of bank lending stimulus plan

LONDON (Reuters) – Britain will increase the size of a program intended to encourage banks to lend to businesses and home-buyers, finance minister Philip Hammond said on Monday.

Hammond authorized a Bank of England request for a 25 billion-pound increase in the maximum size of the Term Funding Scheme which previously stood at 115 billion pounds ($152 billion).

($1 = 0.7551 pounds)

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