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The Greensill case illustrates the impact of the COVID-related crisis on the shadow banking sector to which riskier credit business had migrated financed by securitisation rather than deposit taking following the heavier capital requirements imposed on regulated banks after the 2008 financial crisis. It also shows that Lex Greensill s engagement in crisis-driven government funding programmes goes back to the days of the crisis and his time with Citibank.
In 2020, Lex Greensill had sought financial assistance by lobbying HM Treasury and the Bank of England for inclusion in COVID-related government loan and loan guarantee schemes, initially in the Covid Corporate Finance Facility (CCFF).
Tuesday, 11 May 2021, 5:22 pm
Some of the big names may be missing but the classes at
this week’s New Zealand Three Day Event Championships are
hugely competitive, with expectations high for some
close-fought battles across the levels.
All eyes will
be on the DVS Home Ventilation Systems CCI4 -L which will be
without former winners Clarke Johnstone (2014 and 2011),
Maddy Crowe (2019) and Amanda Pottinger (2018), as well as
Bundy Pottinger who are all competing
offshore.
However, the top-ranked class of the show
has attracted some excellent combinations and it would be a
brave person to pick a winner before the final flags are