Lyddon Consulting Services | Blog | Lyddon Consulting

EU and Eurozone are massively over-indebted – but official figures obscure it

EU and Eurozone are over-indebted

Published on 12th April 2023

EU and Eurozone member states fail to fully report their financial liabilities. The key measure tracked by Eurostat – ‘General government gross debt’ – is circumvented to such an extent that, based on year-end 2021 figures, debts of around €6.4 trillion failed to be registered, and contingent […]

Risk-weighting – how to fake up resilience in a banking system

— blog published on 6th April 2023 and the underlying article by IREF Europe on 5th April 2023 —

Introduction

How resilient is the global banking system? Are banks’ capital buffers now much larger than they were going into the Global Financial Crisis of 2007/8, as authorities claim?

The buffers – called ‘Common Equity Tier 1’ (or CET1), […]

Bank Resolution is dead: authorities dare not use it – and instead risk destroying capital markets

— blog published on 1st April 2023 and the underlying article by IREF Europe on 29th March 2023 —

The template created after the Global Financial Crisis of 2007/8 to shield taxpayers from direct bailouts of failed banks has already folded – authorities dare not use it.

The template is to put failed banks into ‘resolution’, with […]

HSBC rescue of Silicon Valley Bank’s UK arm DID have taxpayer support

SVB’s obituary

Published on 23rd March 2023

I have sent a paper to the Treasury Select Committee proving how the rescue of SVB UK by HSBC had taxpayer support.

You can DOWNLOAD THE PAPER HERE.The Governor of the Bank of England (Andrew Bailey) and the Economic Secretary to the Treasury (Andrew Griffith) are appearing before them on March […]

Review of the 2017 Payment Services Regulations – our response to the Call for Evidence

HM Treasury’s Call for Evidence

Published on 22nd March 2023

We have submitted a response to the Call for Evidence issued by HM Treasury in connection with the review of the 2017 Payment Services Regulations.

You can DOWNLOAD OUR RESPONSE HERE.

It was submitted just before the collapse of Silicon Valley Bank and the unedifying spectacle of UK government […]

Response of The Payments Association to our Open Letter on practices that facilitate financial crime

‘Project Financial Crime’ at The Payments Association

Published on 20th March 2023

The Payments Association responded to our Open Letter of 2nd February 2023 about practices common amongst non-bank Payment Service Providers that enable financial crime.

You can DOWNLOAD THEIR RESPONSE HERE.

It amounts to a ‘nothing to see here’.

You will notice our response on page two, which is […]

Financial Conducts Authority Letter on failings in the non-bank Payment Service Provider sector

FCA website section on eMIs and PI

Published on 20th March 2023

Here is the extraordinary letter issued by the Financial Conduct Authority on 16th March 2023 and addressed to the Chief Executives of nearly 300 non-bank Payment Service Providers.

These are Authorised eMoney Institutions, Authorised Payment Institutions, and some types of Open Banking providers.

It is a long […]

What are the lessons for Europe from the demise of Silicon Valley Bank?

As published on https://en.irefeurope.org/publications/online-articles/article/what-are-the-lessons-for-europe-from-the-demise-of-silicon-valley-bank/ on 13th March 2023

YOU CAN DOWNLOAD THE ARTICLE HERE

Cover of slidedeck issued on 8th March 2023

Silicon Valley Bank (SVB) has gone from hero-to-zero in 48 hours. From established bankers to start-ups in the tech, fintech, and biotech industries and to Napa Valley’s premium wineries on Wednesday 8th March to closed by […]

YouGov surveys commissioned for ‘Britcoin’ Digital Pound project

Published on 9th March 2023

We have analysed the two YouGov surveys issued by the Bank of England and HM Treasury in connection with the public consultation on ‘Britcoin’: the plans for a UK Central Bank Digital Currency.

There is one survey for Small and Medium-Sized Enterprises, and one for Consumers.

They both consistently over-egg the current take-up […]

Open Banking Past and Present – is it a sham?

Cover of ‘Strateic Working Group’ report

Published on 22nd February 2023

Two reports have recently been issued from within the UK’s Open Banking ecosystem about the future ‘roadmap’ for Open Banking, both based on the assumption that there is unanimity about Open Banking’s status now. Both reports claim a high degree of market penetration for Open Banking […]