LONDON (AP) — British banks participating in a plan to boost credit to businesses offered fewer loans in the first quarter of the year, raising some doubts over the program’s ability to help revive the weak economy.
Data released Monday by the Bank of England shows that net lending by banks and building societies participating in the Funding for Lending program dropped by 300 million pounds ($455 million) in the first three months of 2013 compared with the previous quarter.
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