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Banks, however, are proving reluctant to commit to lending given their own funding constraints.
Vickers's much-anticipated remarks came amid an acceleration in talks between high street banks and the government to commit to lending between £160bn and £180bn to businesses this year.
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They are being asked to commit to lend £190bn to businesses and provide more information about how their top staff are paid.
Already, Europe has committed to lending Spain up to 100 billion euros to prop up its banking industry.
Washington has already committed to lending automakers $25 billion for new technology to improve the fuel efficiency of their vehicles.
If the European Central Bank had firmly committed to lending member governments as much money as they need to see them through the crisis, this wouldn't matter.
We decided to have a discussion with the organization — and share it with our readers — in the hope that it might bring some clarity to the important issue of whether big banks are committed to lending to small businesses.
MetroPCS will also restructure its debt, and Deutsche Telekom has committed to lending the new entity as much as $6 billion more in financing on top of the $15 billion the combined entity will owe Deutsche Telekom.
Led by the Asian Development Bank, and nudged by the Institute for Transportation and Development Policy and other groups, the eight largest multilateral development banks have committed to lending $175 billion over the next 10 years for transportation projects that cut urban congestion and limit pollution and energy waste.
As we await the referendum results, the World Bank and other partners are committed to lending their support.
Lloyds is committed to lend £44bn to credit-starved businesses by March, and stressed today that it had already lent £35bn by the third quarter of the year.
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