News & Analysis as of

Financial Institutions Lenders United Kingdom

A&O Shearman

Mansion House: Mortgage-related developments

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HM Treasury has announced the launch of a permanent mortgage guarantee scheme, aimed at supporting first-time buyers and home movers across the UK. The scheme enables access to 91–95% loan-to-value mortgages, allowing buyers...more

A&O Shearman

PRA to review Loan to Income flow limit rule and offers interim modification by consent

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The Prudential Regulation Authority (PRA) has announced it will be reviewing the Loan to Income (LTI) flow limit requirements, following the Financial Policy Committee's (FPC) recommendation, as stated in its July financial...more

Sullivan & Worcester

Sullivan works with ITFA on Launch of Short Term SWIFT FI Trade Loan Template

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London, UK – Geoffrey Wynne, partner and head of Sullivan's Trade & Export Finance Group, worked with an ITFA working group headed by Paul Coles, chair of its Market Practice Committee, to develop a Short Term SWIFT Financial...more

Pillsbury Winthrop Shaw Pittman LLP

High Court of England and Wales Decision Clarifies “Lender Discretion”

Borrowers and lenders negotiating commercial loan agreements should use precise contractual language to avoid having terms implied into their agreements. In MacDonald Hotels Limited & Anr v Bank of Scotland Plc [2025] EWHC 32...more

Cadwalader, Wickersham & Taft LLP

Navigating the Grey Area, March 2025 - Navigating the Grey Area: Financial Covenant Amendments and the Doctrine of Purview

The doctrine of purview under English law plays a critical role in determining whether amendments to a secured facility require reaffirmation or re-execution of guarantees and security. However, when it comes to adjustments...more

A&O Shearman

Good faith in secured finance?

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The court implied a good faith term constraining a lender’s discretion to refuse a borrower's request to dispose of assets in a secured financing context. A power to consider requests for disposals - A facility agreement...more

Morgan Lewis

UK Supreme Court to Review Ruling on Motor Finance Commissions: Implications for Auto Sector

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The UK Supreme Court’s ruling on undisclosed commissions earned by brokers will significantly impact the automotive sector and lenders. Although banks have been the focus of debate, the decision by His Majesty’s Treasury to...more

Skadden, Arps, Slate, Meagher & Flom LLP

PRA 2025 Supervisory Priorities: International Banks and UK Deposit Takers

On 21 January 2025, the UK’s Prudential Regulation Authority (PRA) published two supervisory letters outlining 2025 priorities for international banks and UK deposit takers, respectively. In this note, we look at some of the...more

A&O Shearman

UK Financial Conduct Authority Supports Expedition of Appeals of Motor Finance Decisions

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The U.K. Financial Conduct Authority has published a letter addressed to the Supreme Court regarding the applications for permission to appeal to the SC and requests for expedition in the recent motor finance commission...more

White & Case LLP

Tepid UK & European private capital markets spur unicorns into inorganic opportunities

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3 reasons for continuously high fintech M&A activity levels: Banks target indirect digital access: Through credit lines, investments in venture capital funds, collaborations with innovators and establishment of next...more

Mayer Brown

Sub-participation or loan?

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The Court of Appeal recently handed down judgment in Yieldpoint Stable Value Fund, LP v Kimura Commodity Trade Finance Fund Limited [2024] EWCA Civ 639, on Kimura's appeal from the High Court's decision that a participation...more

Mayer Brown

Liquidity Covenants To The Fore

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WHAT IS A LIQUIDITY COVENANT AND WHY IS IT INTRODUCED? A liquidity covenant is a requirement for a business to maintain a minimum amount of available cash on a balance sheet. Originally Published in Butterworths...more

White & Case LLP

The 3rd Fintech Epoch: Europe’s first-movers drive M&A amid tightened purse strings

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UK & European Financial Services M&A: Sector trends H2 2022 | H1 2023 — Fintech - Whilst many European start-ups have struggled to successfully execute funding rounds at valuation levels of yesteryear, more mature fintechs...more

Cadwalader, Wickersham & Taft LLP

FCA Seeks Feedback on ‘Synthetic’ USD LIBOR

On November 23, the UK’s Financial Conduct Authority (“FCA”) released its further consultation to require the administrator of LIBOR to publish a synthetic version of 1-, 3-, and 6-month U.S. dollar LIBOR settings for a...more

Cadwalader, Wickersham & Taft LLP

FCA Issues Statement on the End of Synthetic Sterling LIBOR

On September 29, the UK’s Financial Conduct Authority (“FCA”) issued a statement that the publication of the 1-month and 6-month synthetic sterling LIBOR would permanently cease at the end of March 2023....more

Hogan Lovells

As economic headwinds increase, lenders need to focus more on ensuring good customer outcomes

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The FCA has highlighted its concerns that lenders may not be ensuring fair outcomes for borrowers who find themselves in financial difficulty. With the cost of living crisis and a potential economic downturn, borrowers have a...more

White & Case LLP

Sector trends - July 2022: Consumer Finance

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BNPL steals the show—20 successful European BNPL provider funding rounds in the past 12 months, covering the full spectrum from Seed through to late-stage.     New entrants and disruptors across Europe are likely to...more

Hogan Lovells

Borrowers in financial difficulty: FCA research report highlights areas of improvement for lenders

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In the context of its ongoing Borrowers in Financial Difficulty project, the FCA has published a research report that suggests there’s scope for more and better engagement by lenders with such customers. The message in the...more

A&O Shearman

Implications for Credit Agreements After the Russian Invasion of Ukraine

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Following the recent Russian invasion of Ukraine, many countries, including the United States, the United Kingdom and member states of the European Union, have imposed a coordinated series of sanctions unprecedented in scope...more

A&O Shearman

UK Conduct Regulator's Rules for Use of Synthetic Sterling and Yen LIBOR Enter Into Force

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The U.K. Financial Conduct Authority's new rules permitting legacy use of certain synthetic sterling and yen LIBOR settings enter into force today. The FCA has published its final notice confirming that ICE Benchmark...more

Skadden, Arps, Slate, Meagher & Flom LLP

UK Treasury Launches Consultation on Regulation of ‘Buy Now, Pay Later’ Financing

On 21 October 2021, the UK Treasury (Treasury) published a consultation paper setting out policy options for the regulation of “buy now, pay later” (BNPL) credit agreements. The consultation follows the publication of...more

White & Case LLP

Financial institutions M&A: Consumer Finance

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Financial institutions M&A sector trends: consumer finance — H1 2021 and outlook for H2 2021 - Hyper-specialisation of the European consumer finance market continues, with POS, entrepreneur, freelancer, migrant and payroll...more

Katten Muchin Rosenman LLP

2021 PRIVATE CREDIT SURVEY REPORT - Despite Private Credit’s Sunny Outlook, Questions Emerge About Lender/Investor Congeniality,...

In February, Katten conducted a survey of 112 private credit industry professionals that showed how a large percentage of private equity investors and lenders in the private credit industry expect deal flow to increase in...more

Skadden, Arps, Slate, Meagher & Flom LLP

The UK’s Woolard Review Proposes Regulations for BNPL Credit Agreements

On 2 February 2021, the Financial Conduct Authority (the FCA) published a report on the U.K. unsecured credit market (the Woolard Report), which makes several recommendations designed to generate alternatives to high-cost...more

Alston & Bird

Discontinuing GBR LIBOR: The Time to Act Is Now

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Our Finance Group explains why the transition from the London Interbank Offered Rate remains an essential task amid COVID-19 and urges loan market participants not to wait on devising a transition plan. ...more

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