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...In the investor document, SJP said its “business sale and purchase scheme” benefits clients, partners and shareholders because it supports adviser and client retention, promotes continuity of service for...
...In 2016, it began its pivot into banking to access more stable ways to fund its loans with savings accounts....
...SJP classes these loans on its books as “underperforming”....
...He was awarded a CBE in 2017 for “services to the economy”....
...BofA increased its estimate of expected loan losses at a time when its rivals were seeing loan losses level off....
...By “volatility shield”, of course, they mean “infrequent updates of often-subjective loan marks”....
...For example, if a private credit fund owns a $150mm loan, funded by $100mm of investor capital and $50mm of external leverage, this would be counted as $100mm of assets, assuming the loan is valued at par...
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...borrowed from an illegal or unlicensed loan provider in the past three years....
...This was a payday loan of a Budget, designed to get a hand-to-mouth government from here to the election....
...EY can do itself a service by dropping its carbon negative boast as part of a far more rigorous climate strategy....
...The UK agency’s customer service performance was last month described by MPs as at an “all-time low”....
...In 2015, the US Consumer Financial Protection Bureau ordered two of Hankey’s companies, Westlake Services and Wilshire Consumer Credit, to collectively pay nearly $50mn in restitution and fines....
...This debate became especially acute during the Debt Service Suspension Initiative (DSSI) in 2020....
...The company, which levered up when interest rates were low to buy non-performing loans, will get €0.7bn of cash, an equity stake in the new vehicle and a five-year contract to service the assets....
...senior loans....
...The managers of these capital pools buy up pieces of multiple bank loans, often stemming from private equity deals....
...The writer is founder of Fox Legal Training Much ink has been spilled about the degrading quality of investor protections in high-yield bond and leveraged loan agreements, also known as “covenants”....
...But what once seemed like niche, add-on services and products are now becoming mainstream....
...The regulator said it would also review firms’ policies on when personal guarantees are required and work with the Financial Ombudsman Service to monitor complaints....
...But under the “terms of service” section of its website, BetterMed states that the company is not a lender and that it “provides no express or implied guarantee that you will be approved for a loan”....
...The convertible loan gave the airport a nominal valuation of £400mn in 2021....
...Traditional deposit-taking banks originate these leveraged loans and parcel them out to specialist funds including so-called collateralised loan obligations....
...But, as with all things in financial services, the hand that giveth is the hand that takes away....
...It concluded that, in becoming a party to the loans, LLC5 had a main purpose of obtaining a tax advantage....
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