U.K. CLEARING BANK LENDING RISES 1.6 BILLION STG

  Clearing bank sterling lending to the
  U.K. Private sector in February is estimated to have risen by
  an underlying, seasonally-adjusted 1.6 billion stg after a 1.2
  billion stg rise in January, the Banking Information Service
  said.
      The unadjusted rise was 1.31 billion stg, compared with an
  813 mln stg increase in January.
      The Banking Information Service said the adjusted rise of
  1.6 billion stg was well above the recent monthly average of
  about 1.0 billion stg.
      Of the increase, 297 mln stg was accounted for by personal
  lending, which the Banking Information Service said was taken
  up entirely by lending for home purchases.
      Lending for consumption fell around 17 mln stg while about
  182 mln stg of credit card debt was repaid during the month.
      Lending to the manufacturing industry was up 370 mln stg,
  and to leasing companies by 308 mln stg.
      The Banking Information Service said February fell within
  the governmemnt tax season, so much of the lending was probably
  the result of industry's need to pay its tax bills.
      Deposits by the private sector rose an unadjusted 1.1
  billion stg in February and by a seasonally-adjusted 1.75
  billion stg.
      Deposits from the public sector rose 185 mln stg in
  February while deposits from overseas residents rose by 43 mln.
  

