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Banks agree on lending

Published:  09 August, 2010

LONDON: Six major banks have formed a taskforce designed to get lending to businesses moving again, the British Bankers' Association said today.

In a letter to Chancellor George Osborne, BBA chairman Stephen Green outlined a series of proposals aimed at stimulating private-sector recovery.

He said the chief executives of the country's top banks will guide a series of work streams that will assess the lack of lending to businesses and propose solutions.

"The objective of the taskforce is to explore the problems currently affecting securitisation markets…and to explore other issues that will influence the ability of UK businesses to obtain the finance they need to support private sector growth," Mr Green wrote.

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