Bank of England Raises Concern About Lenders Easing Credit Conditions

(Bloomberg) -- The Bank of England said it's
concerned that lenders are easing credit restrictions as financial
companies compete to benefit from the fastest global growth in
more than three decades.

``Lenders reportedly continued to compete aggressively for
business on non-price terms, driving lending standards down
further,'' the U.K. central bank said in its quarterly bulletin
today. As a result of lower standards, the quality of covenants,
loan conditions that give lenders added protection, is also
deteriorating, the bank said.


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