Based on the response to our newsletter item on the subject a couple of weeks ago, we’ve decided that it’s worth doing a bit more work on the question of major banks being unwilling to provide real estate borrower SPV accounts where they are not otherwise involved in the deal. There seems to be real problems faced by lenders who cannot themselves offer account services in (at least) the Netherlands and the UK.

We’re also talking to the LMA about this, but in the meantime we are planning a virtual meeting for affected CREFC Europe members to discuss (hopefully in the second half of August, though it might slip into September). If you or a colleague would like to be involved, please drop Peter a line.

You must be logged in as a member to add comments.

Become a member

Already a member? Log in or create an account.

Registered office: C/o PKF Littlejohn LLP, 15 Westferry Circus, London E14 4HD, United Kingdom.
Log in | Powered by White Fuse