CREDIT REVIEW BODY 'LOOKS AT FIRMS' FUTURE' - The Credit Review Office, which investigates appeals on bank loans, has looked at just over 40 cases since it began work in March.
The head of the Credit Review Office, John Trethowan, said the workload had kept his office very busy, as the cases were 'quite intense'.
Mr Trethowan said there was a lack of capital in small businesses, with many reserves used over the years for investment in residential property. He said generally banks were being supportive, but the cases his office dealt with were quite difficult.
Mr Trethowan said the banks' attitude to his office had been positive, and they had accepted his decisions. Asked about the complaints against banks he had upheld, he said his office had looked in these cases at the firms' future prospects, rather than the past.
Mr Trethowan said around 30% of small business loans appeared to be at risk of going bad, but a lot would depend on when the economy picked up again.
He said exporters and farming were the two strongest performing sectors at the moment, but firms would have to keep an eye on interest rates and exchange rates in particular next year.
***
CURRENCIES - The euro is trading at $1.31 and 84p sterling.
