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Despite making up 80% of the UK's GDP, services are being left out of the loop in the confusion surrounding the country’s potential exit from the European Union and the recent focus on the Customs Union. -
We are now a decade on from the start of the global financial crisis, the event that has defined public perception towards finance and the rules and regulations which govern it. It is still misunderstood.
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Despite UK assets offering juicier spreads than their European counterparts, distribution stats show little European investor participation in UK deals. That might be disappointing for UK issuers, but at least it means little to fear from a hard Brexit.
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The Bank of England is right to warn of increasingly lax consumer lending standards, but until it sets the UK on a path to interest rate normalization, borrowing will remain too attractive an option for consumers to ignore.
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Acting Comptroller of the Currency Keith Noreika’s support of granting national bank charters to fintech companies is positive for the industry, but until the OCC actually provides clear and specific guidelines, the banking charter for fintech firms is a pipe dream.
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“What were they thinking?” cried the European ABS market this week as the full impact of what originally seemed like an innocuous ban on an already illegal mortgage product became clear.
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The ECB should take a bold step this week to signal the end of the ABSPP, something which many in the market would welcome.
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The US CMBS market is becoming more concentrated, with a smaller number of lenders structuring more deals exposed to the same properties. Lenders will have to make the CMBS experience a better one for borrowers if they want to pump life back into the market.
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The loss of London as a cohesive financial centre would probably lead to a splintered European financial market, which would be a blow to the continent’s attractiveness for global financial firms.
