Project Merlin Bank Lending and Bonus Deal
Published / Last Updated on 09/02/2011
Project Merlin Bank Lending and Bonus Deal.
An agreement with the largest UK banks on lending, pay and bonuses called Project Merlin has been announced. Banks will lend around £190bn to businesses, of which £76m will be lent to small firms, they will also reveal some salary details of their top earners and limit bonuses.
Banks who have signed up to Project Merlin so far are Barclays, HSBC and Royal Bank of Scotland (RBS) and Lloyds Banking Group. Santander has agreed to the lending parts of the deal.
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