Nationwide taps BoE funding scheme for more than £4 billion in 2018

Nationwide Building Society was the biggest borrower from the Bank of England’s Term Funding Scheme (TFS) during the first quarter of 2018, having tapped the facility for £4.65 billion ($6.52 billion).

The TFS closed on February 28. During its last two months of operation UK firms borrowed £24.1 billion, meaning Nationwide took a share of more than 19%. Nationwide was the third-largest user across the life of the scheme, which launched in late 2016, having borrowed £17 billion in total. Lloyds

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