IMF to quiz UK banks on lending

A TEAM from the International Monetary Fund will ask Britain's biggest banks for detailed information this week as it assesses the health of lenders in five European countries.

The IMF is checking Britain's banks before wider so-called stress tests by the European Union, according to industry sources. The team was expected in Sweden next month or early March, according to reports yesterday.

The IMF said it is conducting what it called "routine" stress tests of financial systems in the UK, Sweden, the Netherlands, Germany and Luxembourg.