UK banks commit to $15 billion lending package to help firms expand abroad

LONDON, Jan 26 (Reuters) - Britain's five leading banks committed to lending 11 billion pounds ($15 billion) in total to help firms invest and expand into new international markets, the government said on Monday.

Lending will be drawn entirely from the banks' own balance sheets. The banks are NatWest, HSBC, Barclays, Lloyds and Santander.

UK Export Finance, the government’s export credit agency, will guarantee up to 80% of eligible loans issued by each bank.

($1 = 0.7308 pounds)