Banks are lending again.

Global banks boosted lending outside their national borders by $700bn, or 2.1 per cent, to $33,400bn in the first quarter of this year, according to figures from the Bank for International Settlements, which is known as the central bankers’ bank. The biggest rise was an unprecedented surge in foreign lending into China which rose by almost a quarter, or $42bn. India, Taiwan and Indonesia also saw strong increases. “As the banking system moves from crisis to repair to recovery, it tries to do what it should do, which is lend to companies and people, naturally with a bias to emerging markets,” said Mr van Steenis. http://www.ft.com/cms/s/0/9442c552-b91c-11df-99be-00144feabdc0.html