Similar schemes, such as the Federal Credit Programme in America, are tools of fiscal policy aimed at realising public-policy goals in an efficient and effective manner by using loans.
The rise in indirect lending, through the government's credit-guarantee programme, has been even more striking.
And now that the worst of the Japanese economic crisis seems to be past, it should also halt its credit-guarantee programme.
In Britain, banks still face high borrowing costs and remain nervous about lending more to small and medium-sized enterprises: a new credit-easing programme about to be introduced by the BoE and the Treasury is long overdue.
An existing programme to support fixed-rate credit for exporters' customers is to be extended.
The move towards an equivalent of America's earned-income tax credit (a key part of the fairness programme, albeit borrowed from the wrong side) does make sense.
This masquerade ended when apps seeded with BadNews got a prompt from one of three command and control servers, then it started pushing out and installing a more malicious programme called AlphaSMS. This steals credit by sending text messages to premium rate numbers.
The coalition has long banked the credibility of its deficit reduction programme on the verdict of the global credit rating agencies, Moody's, Standard and Poor's and Fitch.
"It does have a line of credit for the individual with the credit union should they require it, " she told the programme.
BBC: NEWS | Programmes | Moneybox | Bank current accounts challenge
"Growth is likely to be weak in the near term but further out a continued easing in domestic credit conditions, supported by the Bank's asset purchase programme and the Funding for Lending Scheme, together with the stronger global backdrop, underpin a slow but steady recovery in output, " the governor said.
The scheme "will support the flow of credit to where it is needed, complementing the MPC's asset purchase programme in easing monetary policy conditions", he said in a letter to Bank of England governor Sir Mervyn King.
The Conservative and Liberal Democrat programme for government promised to reform the policing of the financial services industry to prevent a repeat of the credit crunch and the ensuing financial crisis.
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