The following Banking & Finance practice note provides comprehensive and up to date legal information covering:
Administrative departments in a bank which are involved in activities such as settlement and accounts
A transaction that has a mirror opposite transaction to it which replicates its obligations, liabilities and rights
Where the final repayment of principal in a loan transaction is substantially larger than earlier repayment instalments
Repayment, prepayment and cancellation
A bank base rate is a variable interest rate set by individual banks and used as a reference when lending to borrowers.
Where a bank accesses funds from money deposited by customers or raised from other investors, its cost of lending is:
the amount it must pay to its depositors or other investors to attract their business (eg the interest it offers to its customers), plus
certain associated costs of lending (known as mandatory costs)
Banks use those amounts to determine their 'base rates' which they then use to benchmark the interest they charge to their borrowers eg 'base rate plus 1%'.
Banks set their own individual base rates. In addition, the Bank of England has its own base rate, known as the Bank Rate. This determines the interest rate the Bank of England pays to commercial banks that hold money with it and typically influences individual bank base rates.
Interest—funding rates and margin
A bailment arises whenever one person (the b
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and thousands of others like it, sign-in to LexisPSL or register for a free trial.
Existing user? Sign-in
Take a free trial
The primary function of office-holders in personal and corporate insolvency is to collect in the assets belonging to a company or individual and to distribute these to the company's or individual's creditors. Office-holders have various duties and powers in order to ensure that they do this. For
What is a company's constitution?A company’s 'constitution' is defined under the Companies Act 2006 (CA 2006) as including:•the company’s articles of association, and•any resolutions and agreements affecting a company’s constitutionThe CA 2006 definition of 'constitution' is not exhaustive and also
The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to insurers: the Conduct of Business Sourcebook (COBS) and the Insurance Conduct of Business Sourcebook (ICOBS). This Practice Note considers how these
This Practice Note provides guidance on the interpretation and application of the relevant provisions of the CPR. Depending on the court in which your matter is proceeding, you may also need to be mindful of additional provisions—see further below.Note: this Practice Note does not deal with the
0330 161 1234
To view our latest legal guidance content,sign-in to Lexis®PSL or register for a free trial.