The loans-boosting plan saw the Bank of England hand over £185 billion in "safe" bonds in exchange for almost £300 billion of banks' "toxic" assets.
Loan lending figures from the Bank of England's Special Liquidity Scheme (SLS) were released yesterday.
According to the data, the Bank of England lent a total of around £185 billion in Treasury bills to 32 financial firms under the scheme. The total nominal value of assets received from these firms and held as collateral, as part of SLS, was said to be £287 billion.
SLS was closed on Friday, when the newly-released data was taken. Set up last April as part of the Bank's strategy to get UK financial institutions lending more to customers and businesses, it worked by swapping some of their harder-to-value assets for "safer" government bonds for up to three years.
The scheme itself was originally intended to run for just six months - a period which was extended late last year due to the continuing financial crisis and low lending levels among the firms.
In a statement, the Bank said: "The Special Liquidity Scheme has served its purpose in relation to the overhang of illiquid assets on balance sheets up to the end of 2007."
Since the creation of SLS, the government has launched two separate bank bailout plans in order to alleviate the crisis in the financial system, one in October and one in January. Measures included in these plans have included directly buying equity stakes in at-risk institutions and allowing the Bank of England greater leeway in their lending practices.
One measure, known as the Discount Window Facility and launched in October, allows banks to trade in toxic assets for government bonds in a similar way to SLS.
