Summary
I t's NOT so long ago that you could talk to your bank and walk away with significant amounts of cash, with high borrowing multiples and historically low interest rates fuelling Britain's credit-based economic growth.
But in the space of a year it has all changed. While the collapse of Northern Rock in August 2007 triggered a whole series of Press articles on the emerging global credit crisis, it was only really in the autumn of last year that its full impact began to be felt very acutely by businesses as overdraft facilities were capped or withdrawn and invoice discounting facilities re-set at much higher rates, often with little notice.See the full content of this document
Extract
New Credit Crisis for Banks Trying to Lend
Having been propped up financially by the UK Government to the tune of pounds37 billion, the worst-bitten banks now have money to lend again - but is it the right type of money? And are there enough of the right type of companies wanting it?
Cue Lloyds TSB, new owner of HBOS. The pounds12 billion takeover last September created a lender holding almost a th...See the full content of this document
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