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UK consumer lending not driven by subprime borrowers, regulators say

Reuters  |  LONDON 

LONDON (Reuters) - Rapid growth in Britain's consumer credit has been driven by borrowing by people with good credit scores, not subprime lending, according to research from regulators on Monday.Unsecured consumer lending grew at near double-digit rates in 2016 and 2017, and concern that lenders had overestimated their borrowers' creditworthiness led the Bank of England to tell them in September to hold 10 billion pounds ($13.54 billion) of extra capital.However, research jointly published by Britain's Financial Conduct Authority and a BoE blog showed that two-thirds of outstanding lending as ...

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First Published: Mon, January 08 2018. 17:52 IST
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