Interbank Lending Scheme

Stewart Hosie
To ask the Chancellor of the Exchequer what the value of lending guaranteed by the Interbank Lending Scheme is.

Ian Pearson
On 8 October 2008, the Government announced, as part of a comprehensive package of measures, the Credit Guarantee Scheme. The scheme took effect on 13 October and assists eligible institutions in refinancing maturing wholesale funding. Banks have drawn down some £100 billion of guarantees.