CML calls for end to 'conflicting' demands on lenders

Michael Coogan, director general of the CML, says lenders are facing too many conflicting pressures, including to recapitalise against future losses, show forbearance to borrowers in arrears and provide competitive rates to new borrowers. "Current policy objectives are conflicting and incoherent," he says. "The Government needs to decide on its key priority. The tug of war with lenders being pulled in every direction at once needs to end. "We believe the Government urgently needs to review the cumulative effect of the approach it has taken in the recapitalisation process on large lender...