Should UK banks pass on interest rates.

The idea is banks have been bailed out, they should pass on credit terms.

Methinks, they ain't declared all their bad debts yet and are frantically trying to make that money before they have to. They'll probably be down writing for 18 months yet, again, methinks.

If they aren't hiding a toxic balance sheet, what other reason is there not for them to lend to small businesses (in a recession)?

If they are hiding a toxic sheet, what chances of a Japanese style period of depression?

They really need to pass on the cuts to mortgage payers, especially those in receipt of mortgage interest assistance through the social security system. At the moment there's an average 2% differential between what the DWP pay & what borrowers are charged ... if left unchecked this will lead to further repossessions (and, effectively a waste of taxpayers money ... no change there then).

Originally posted by Niall197
They really need to pass on the cuts to mortgage payers, especially those in receipt of mortgage interest assistance through the social security system. At the moment there's an average 2% differential between what the DWP pay & what borrowers are charged ... if left unchecked this will lead to further repossessions (and, effectively a waste of taxpayers money ... no change there then).

What you're almost implying is that they need a new sheet and let the old pay itself off. The problem is twofold, the down writing problem, and that their models of debt repayment are finally getting recession data......