US Federal Reserve says increased banking competition has led to more lending

The latest lending survey from the US Federal Reserve has shown the first slackening in lending conditions for smaller American companies since late 2006 as competition between banks increases.
While small and medium-sized British business still complain of a lack of new credit from UK banks, US lenders have begun easing standards and reducing pricing for the first time in nearly four years.
According to the Fed's report, which surveys loan officers at 80 banks, the main reason for the change has been an increase in competition for business this year. Related Articles
The findings add weight to the argument that increasing competition in the banking industry would help improve the flow of credit to British businesses.