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A recent local authority interest rate swap transaction, developed by Arlingclose and believed to be the first of its kind in over thirty years, has reignited the debate around power to use derivatives. In this note we set out the legal and regulatory background to local authority use of derivatives.
Assessing risk tolerance is no easy task and requires a variety of both objective and subjective judgements.
Is it time to revisit MRP?
This topic was spoken about long before COVID-19 reared its ugly head, but with lockdowns still in place across the globe, this question is more pertinent than ever
Increasingly, Arlingclose is being asked to provide advice on local authority contracts including Private Finance Initiatives, other forms of Public Private Partnerships and Joint Ventures and outsourced services.
Local authorities which fund their borrowing requirements from either internal borrowing or short-term variable rate borrowing from other local authorities are exposed to the risk of interest rates rising. A swap is one way of managing this risk.
When interest rates are negative, and you withdraw your cash with interest deducted, have you broken the golden rule of keeping your investment secure?
Base Rate is older than you might think and started when the Bank of England was granted a Royal Charter by King William and Queen Mary in 1694.
Are Real Estate Investment Trusts (REITs) a good investment for local authorities?
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