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The investigative arm of the US Congress has told US regulators that the leveraged lending guidelines should be open to review. But this is nothing new — borrowers have been acting as if they are open to interpretation for some time. -
The Bank of England is now odds on to raise interest rates at the November meeting of the Monetary Policy Committee in November, after the Consumer Price index reported inflation exceeding 3%, but such a move could tip the UK economy over a cliff.
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A US Treasury report on capital markets, published on Friday, struck a populist tone, saying the rise of private credit at the expense of public market sources of financing has snatched money-making opportunities away from average Americans. But it is investment banking that has most to gain from a boost to public debt markets, not individual investors.
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As the industry continues to mature, marketplace lenders should drop their gimmicks and sell themselves on their underwriting records.
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Once again, fintech was a hot topic at the annual ABS East conference in Miami Beach last month. But unlike in the past, the focus was not on the newest trend among marketplace lenders or payments companies, which are looking more like run of the mill banking institutions, but on how technology will enhance, digitize and eventually automate financial services.
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The decision to strip AIG of its designation as a systemically important financial institution (Sifi) says more about the arbitrary and confusing nature of the Sifi designation process, rather than the American insurance giant’s importance in the US financial system.
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Despite its noble intentions, the UK Labour Party’s plan to limit the total amount of interest and charges which credit card lenders can charge will cut access to credit and limit the flexibility for borrowers.
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Toys‘R’Us has filed for bankruptcy protection in the US and Canada as it attempts to restructure its debt. Its woes should be another hint to CLO managers that its time to cycle out of specialist retail exposures.
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For years there's been talk of online lenders and challenger banks disrupting the UK banking sector, but reports that Goldman Sachs is ready to plant its flag in the UK savings and consumer lending market is the biggest challenge established UK giants are likely to face.
