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Paul Fisher reappointed to MPC

Markets executive director Paul Fisher has been reappointed as a member of the Bank of England’s Monetary Policy Committee for a further three-year term.

The reappointment will take effect from May 31, when Fisher’s current term expires.

He was rehired to the committee by Mervyn King, governor of the Bank of England, following a consultation with the chancellor of the exchequer.

The news comes after three members of the MPC voted for a base rate increase in February, with Spencer Dale joining the dissenting voices of Martin Weale and Andrew Sentence.


Halifax to pay £500m price for confusing customers

Confusing wording regarding Hali-fax’s SVR in up to 300,000 mortgage contracts could cost it £500m in customer redress. Lloyds Banking Group revealed last week that it has agreed a deal with the Financial Services Auth-ority to compensate up to 300,000 customers who took out a mortgage between September 20 2004 and September 16 2007 and […]

Paul Muolo

Killing Fannie and Freddie will be hard

Let’s not mince words. On February 11 the White House released its long-awaited plan to revamp US mortgage giants Fannie Mae and Freddie Mac and the verdict was clear – don’t restructure these $5trillion behemoths, just pull the plug. And so it has come to pass. President Barack Obama, a Democrat – traditionally Democrats love […]


DB transfer showstoppers

By Jim Grant, Senior Product Insight & Technical Support Analyst Transfers from defined benefit (DB) schemes are a bit of a hot topic just now. In this article we look at a couple of factors that could prevent a transfer from happening Equalisation of pensions Prior to the Barber case in 1990, DB pension schemes typically provided […]


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