The trio are investors in Senone, a £2.5 million venture put together by Ian Currie, a former director of Bolton Wanderers, with each thought to have contributed about £200,000 to the partnership, which has been lending to small business for more than a year and has given loans to more than a dozen different companies.
Authored by Michael Shedlock via MishTalk.com,
Excess reserves of depository institutions peaked at $2.7 trillion in August of 2014. By December of 2016, excess reserves fell to $1.9 trillion but have since climbed back to $2.2 trillion.
Stephen Hester has waded into the controversy about an apparent lack of lending for smaller businesses, saying Royal Bank of Scotland (RBS) £20bn of cash it was “desperate” to lend out, but companies were not prepared to borrow as they lacked faith in the economic recovery.
German Chancellor Angela Merkel has worked out a deal with Spain to rescue its banks.
Global equity markets and commodities, especially gold and silver, have cheered the news.
However, the bold market has let out a big yawn. The yield on Spanish 10-year treasuries dropped less than 3 basis points to 6.281%, hardly a sustainable rate.
Please consider Germany finalizing face-saving aid deal for Spain