Survey: U.K. Bank Lending Lags G7

British bank lending to the corporate sector lagged lending in other Group of Seven leading economies last year, despite government attempts to boost the availability of credit, a survey showed on Monday.

The study, compiled by accountancy group UHY Hacker Young, showed that in 2013 private sector credit volumes in Britain fell by 2.2 percent, taking inflation into account, while lending across the G7 as a whole increased by 0.1 percent.

UHY Hack Young attributed the weak lending in rich economies partly to rules that seek to prevent a repeat of the financial crisis by requiring banks to hold more capital but which have raised the cost of credit.

Reuters

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