LONDON Dec 1 British lenders' usage of a Bank
of England scheme which helps them pass on August's interest
rate cut more than doubled over the past week, figures from the
central bank showed on Thursday.
The BoE said the total amount of loans made through its Term
Funding Scheme was 5.779 billion pounds ($7.30 billion) between
Sept. 19 and Nov. 30, up from 2.314 billion pounds in data last
week which covered the period running up to Nov. 23.
The central bank said in August that it could make up to 100
billion pounds of cheap finance available to banks through the
scheme, and expected some to use the TFS to roll over financing
from the BoE's earlier Funding for Lending Scheme (FLS).
The central bank also said its total corporate bond
purchases had risen to 3.964 billion pounds from 3.471 billion
pounds, more than a third of its 10 billion pound target.
($1 = 0.7920 pounds)
(Reporting by David Milliken, editing by Andy Bruce)