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Loan arrears fall, says financial regulator

The amount of loans and mortgages from Island banks that have fallen into arrears has dropped, according to new figures.

A Financial Services Authority report about lending shows in the past 12 months, the amount of loans that have fallen behind has dropped from just over £400 million to less than £300 million.

Those figures cover loans that are "past due", or at least 90 days in arrears.

And the number of those loans has also dropped from just under 12,000 to around 4,500.

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