Goin’ Down! UK Banks Suffer Credit Collapse (Similar to USA)

As New Jersey rocker Bruce Springsteen crooned, we’re Goin’ Down.

According to the Bank of England, household unsecured credit availabilty sank to its lowest level in 10 years.

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While household secured credit availability was also in negative territory, it was not as bad a unsecured credit availabilty. The reason? Consumer lending curb to slowdown a hot market.

The US bank credit market is slowing as well.

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The USA does have some similarities with the UK other than clocks.

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One thought on “Goin’ Down! UK Banks Suffer Credit Collapse (Similar to USA)

  1. Pingback: Goin’ Down! UK Banks Suffer Credit Collapse (Similar to USA) | Jina Scholten's Blog

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