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Lenders still failing to get money flowing to businesses

KPMG says that its seeing evidence that lenders are still failing to provide overdrafts, forex and BACS services to businesses.

Simon Collins, head of corporate finance at KPMG, says the reduction in these facilities – which he brackets under the term bilateral debt facilities – could have far reaching consequences next quarter.

He says: “The inability to access bilateral loans could be the tipping point for many businesses as they brace themselves for the harsh trading of January and February next year.”


Covered bond dealers covered

The Securities Industry and Financial Markets Association (SIFMA) has expanded coverage of the fixed income markets by launching the SIFMA European Covered Bond Dealers Association (ECBDA).

Legal challenge mounted against HBOS takeover

A group of businessmen, shareholders and consumers is mounting a legal challenge aginst the government’s decision to sidestep the Competitition Commission and allow the merger of HBOS and Lloyds TSB.

Halifax defends its 0.25% SVR cut

Halifax has defended its decision not to pass on the full 1% rate cut unveiled by the Monetary Policy Committee yesterday.


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