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Peer2Peer Finance News | July 21, 2019

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Bank of England

Consumer credit growth hits a five-year low

July 1, 2019 |

CONSUMER credit growth hit a five-year low during May, Bank of England data shows.

Figures from the Bank show consumer credit borrowing grew by 5.6 per cent in May 2019, the weakest rate this year and the slowest since April … Read More

Bank of England backs data platform to boost SME financing

June 21, 2019 |

THE BANK of England said it will consult on developing a data platform that will store financial information from small- and medium-sized enterprises (SMEs) and help them access funding.

Bank of England Governor Mark Carney said the traditional metrics for … Read More

P2P investors sceptical about interest rate rises

June 19, 2019 |

MORE than half of Assetz Capital’s peer-to-peer investors are not convinced that more frequent Bank of England interest rate rises are on the way.

Bank of England Governor Mark Carney (pictured) said in May that interest rate rises could be … Read More

Defaults rise “significantly” on unsecured loans in first quarter of 2019

April 18, 2019 |

DEFAULT rates on unsecured loans increased “significantly” in the first quarter of 2019, according to the latest Bank of England credit conditions survey.

The rising default rate was largely driven by missed credit card payments among consumers and businesses.

Lenders … Read More

P2P to have strong presence at Innovate Finance Global Summit

March 27, 2019 |

FOUNDERS of the ‘big three’ peer-to-peer lenders are among the confirmed speakers at Innovate Finance Global Summit (IFGS), which takes place next month at London’s Guildhall.

Giles Andrews of Zopa, Samir Desai of Funding Circle and Rhydian Lewis of RateSetter … Read More

Brexit blamed for slowdown in consumer lending

January 30, 2019 |

UNSECURED consumer lending has slowed to its lowest level since 2014, as Brits scale back their spending amid Brexit uncertainty.

The latest Bank of England Money and Credit statistics also found that the total number of mortgage approvals fell from … Read More

Consumer credit cools while mortgage approvals hit 9-month high

November 29, 2018 |

GROWTH in consumer credit slowed in October, while mortgage approvals hit a nine-month high, according to new Bank of England data.

The net amount of new consumer borrowing, excluding mortgages, came in at £0.9bn in October. This equated to a … Read More

Crypto-P2P platforms face tighter anti-money laundering rules

October 30, 2018 |

CRYPTO-BACKED peer-to-peer lending platforms could face more stringent anti-money laundering (AML) regulations, as the government mulls transferring compliance oversight to the City watchdog.

The government’s cryptoassets taskforce, which consists of the Treasury, the Financial Conduct Authority (FCA) and the Bank … Read More

Consumer credit growth hits three-year low

October 29, 2018 |

GROWTH in consumer credit has slowed to its lowest level in more than three years.

Bank of England data, released on Monday, showed that personal borrowing via loans and credit cards was up 7.7 per cent on an annualised basis … Read More

Bank of England launches fintech competition

October 22, 2018 |

THE BANK of England has launched a competition to explore ways to use financial technology to improve people’s lives.

The exact details of the challenge will be revealed on 12 November but the Bank said the competition is aimed at students, … Read More