PRA Goes Softer
PRA Goes Softer
Presenting to a Lords committee, Sam Woods, the PRA’s CEO, noted that the regulator has come under pressure to go softer on regulation. He was responding by scrapping the need for insurers to seek up-front approval for investments and by reducing the reporting burden on banks. He stressed that he was comfortable with the direction of travel.
Lloyds Allows Branch Sharing
Lloyds Banking Group has announced that it will allow customers to use its Lloyds, Bank of Scotland and Halifax branches interchangeably. Given that a quarter of these branches are within close proximity to each other, this news has fueled concerns that further cuts in branch numbers are just around the corner.
Borrowing Bonanza
A record amount of corporate borrowing has occurred thus year with $85 billion raised in the form of corporate borrowing. It would appear that there is a rush to secure cash before Trump volatility sets in.