Lenders to stay stingy for another year, warn CFOs
Finance chiefs in the United States say that relationships with banks will stay frosty until the end of next year
US CFOs have said that banks reluctance to lend to comapnies will not lift
until the end of next year.
Finance bosses also thought the US government’s $700bn bail out plan was not
guaranteed to stimulate the banks into lending to their clients.
The poll by
CFO.com
found that the US Treasury’s investment in banks would need to have conditions
attached to ensure the money filtered its way into company coffers: ‘Otherwise,
I believe the money will mostly used to increase reserves.’
Further reading:
Darling
warns banks have ‘no automatic’ right to funds