Vedanta Hedging has been advising MPs, Lords, SME’s and the FSA about this issue of Fixed Rate Loans and Tailored Business Loans and why they should be considered as part of the FSA Review.
There has been continual reluctance from the Banks and the FSA to include Fixed Rate Loans and Fixed Rate Tailored Business Loans within the FSA Review.
Mark Williams MP raised this issue again in the House of Commons on Tuesday 26th March.
Mark Williams MP makes a clear illustration of two of his constituents that have similar breakage costs, one has a swap and is included in the review and the other has a TBL that is not.
Mr Williams raises the question of how this is consistent with a ‘principles based’ Regulator.
The 5 minute speech can be seen here (at the time of 19:00)