City of London graphic
Media playback is unsupported on your device

Banks could miss Merlin lending targets

Lending to small businesses by major High Street banks has fallen short of what was agreed under the recent deal with the government.

For the first three months of this year £16.8bn was made available, suggesting that the banks will miss their lending target for the full year agreed under the so called Project Merlin deal.

The BBC's chief economics correspondent Hugh Pym reports.

  • 23 May 2011