Lloyds biggest user of BoE funding scheme

Lloyds Bank is on course to be the biggest borrower from the Bank of England’s Term Funding Scheme (TFS), having tapped the facility for almost £20 billion ($27.47 billion) since its launch in late 2016.

RBS is a close second with outstanding TFS drawings of £19 billion. The Edinburgh-based bank was the biggest borrower from the scheme in the fourth quarter of last year, with £5 billion borrowed out of total drawings of £17 billion.  

Despite being the largest borrower, Lloyds’ cumulative net

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