Bank of England rebuffs calls to speed up ‘shadow banking’ stress test Regulation The Bank of England has rejected calls to speed up its inaugural stress test of the private credit industry, despite growing fears that a downturn in so-called shadow banking may pose a systemic threat to the global financial system. In a letter to the House of Lords’ Financial Services and Regulation Committee seen by City [...]
UK fintech Pockit borrows cash from Spanish railway architect Fintech Pockit has borrowed money from an award-winning Spanish railway architect in one of the most unusual debt raises completed by a British fintech. The Cardiff-based business, which offers prepaid accounts to customers without a credit score, has signed a debenture agreement with Anchorgate Management, a British Virgin Islands company controlled by architect Santiago Calatrava, company [...]
Peers warn ‘passive’ Treasury not aware of private credit risks Regulation The Treasury is being too passive about the risks posed to the economy by the rapid growth of private credit in the UK, according to an influential group of peers who accused ministers of “handing out the donkey work” of overseeing the sector to regulators. In fresh report examining the systemic risk posed by private [...]
Andrew Bailey: Private credit should have looser rules than banks December 11, 2025 Bank of England governor Andrew Bailey has said regulation of the booming private credit sector should be more light-touch than traditional lenders despite the central bank’s fears that a blow-up of the industry remains one of the most significant threats to UK financial stability. Bailey told an online event that the fallout from a banking [...]
Bank of England launches groundbreaking private credit stress test December 4, 2025 The Bank of England has launched its first ever stress test of the fast-growing private credit industry, in a bid to establish how the opaque sector would respond to a range of economic and financial shocks. The undertaking, called a ‘system-wide exploratory scenario exercise (SWES)’, will work with some of the industry’s biggest players to [...]
Exclusive: Goldman Sachs, Oaktree and Carlyle to take part in private credit stress test December 3, 2025 Goldman Sachs, Oaktree and Carlyle will take part in the Bank of England’s inaugural stress test of the burgeoning private credit sector this week, City AM can reveal. Britain’s central bank is poised to carry out its first ever “system-wide exploratory scenario exercise” of so-called shadow banks in the coming weeks, in a bid to [...]