Five of the UK’s six biggest lenders have signed up to the Funding for Lending scheme, designed to stimulate the economy by making cheaper loans available to firms and individuals.
HSBC is the only one of the top six not taking part, as it says it does not need additional funding.
The Bank of England, which runs the scheme, said 13 banks and building societies had signed up so far.
They represent 73% of the market and Â£1.2 trillion worth of lending.
The institutions can borrow the equivalent of up to 5% of their loan books immediately, and more if they meet certain conditions over the next year.
Based on their current lending levels, the 13 institutions could initially draw on up to Â£60bn of Bank of England funding.