LONDON Dec 22 British lenders' usage of a new
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 20.515 billion pounds ($25.30 billion)
between Sept. 19 and Dec. 21, up from 9.895 billion pounds in
data last week which covered the period running up to Dec. 14.
A Bank of England spokeswoman declined to comment on the
Demand for an older BoE programme designed to provide banks
with cheap finance for new lending, the Funding for Lending
Scheme, has tended to increase towards year-end, according to
the central bank's data.
($1 = 0.8109 pounds)
(Reporting by Andy Bruce; editing by Kate Holton)