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LONDON, May 29 (Reuters) - The Bank of England said netlending to businesses by banks and building societies takingpart in its Funding for Lending Scheme (FLS) fell by 2.7 billionpounds in the first quarter of 2014.
Banks have drawn down 43.3 billion pounds ($72.3 billion) ofcheap funds from the FLS since it was introduced last year.
The latest data covers an extension to the scheme which wasdesigned to provide cheap funding for banks and buildingsocieties to lend to UK businesses.
The data showed net lending fell the most at Britain'sbiggest retail bank Lloyds, which lent 2 billion poundsless to businesses during the period.
($1 = 0.5986 British Pounds) (Reporting by Matt Scuffham; Editing by Steve Slater)
