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MNI BRIEF: BOE Expands TFSME To Reflect Bounce Back Loan Amends

The Bank of England said Thursday is was extending the possible duration of TFSME funding from four to six years and the Bank will also in future allow TFSME participants to extend part of their borrowings again, out to a total term of up to ten years.6. Participants will be able to extend the term of TFSME loans by up to a further four years at the point at which existing six year TFSME loans mature.

The amount of TFSME funding that can be extended will be capped at the amount of Bounce Back Loan Scheme lending on TFSME participants' balance sheets at that point in time.

The Bank's move follows up on policies laid out earlier by Chancellor of the Exchequer Rishi Sunak

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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