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BSA: Mutual lenders sign up for FLS and increase lending

Of the 39 lenders which have signed up for the Bank’s Funding for Lending Scheme (FLS), two thirds are mutual lenders, primarily building societies. Five mutuals had drawn £2.3 billion of funds from the FLS by the end of 2012, 17% of the total amount drawn. However, during Q4 many of the mutual lenders who have signed up for the scheme were finalising the processes for drawing funds, and are likely to do so before it closes next year.