Interest Rates

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Global Financial Markets Insight - Issue 11, 2016

As we come to the end of 2016 we re ect on a year characterised by events that have sent political shockwaves through the world’s major markets and consider what this may mean for the coming year. The surprise may be...more

How Trump’s Presidency Could Impact the Commercial Real Estate Market

Many economists believe that the Donald Trump presidency will bring with it an era of higher interest rates, inflationary policies, tax cuts and infrastructure spending. Such an environment would have mixed consequences for...more

Penalty doctrine rejected: Arab Bank Australia Ltd v Sayde Developments Pty Ltd [2016] NSWCA 328

In what will be further good news for lenders, the NSW Court of Appeal has recently held that the application of a 2% default interest margin under a loan contract is not a penalty. ...more

CrunchedCredit.com’s 7th Annual Golden Turkey Awards

As is our tradition here at Crunched Credit, each year, about this time, we present our Golden Turkey Awards. In a year of monumentally bad surprises, we truly had difficulty narrowing our list down to only the exceptionally...more

GAO report highlights gap in SCRA oversight for private student loans; encourages CFPB to seek additional statutory authority

On November 18, the GAO released a report examining issues related to implementation of the Servicemembers Civil Relief Act (SCRA) interest rate cap for student loans. The Senate Committee on Homeland Security and...more

What Might a Trump Administration Mean for Bankruptcy Lawyers?

Inauguration is still about 2 months away, but it is not too early to begin thinking about what the Trump Administration will mean for commercial lawyers in general and bankruptcy lawyers in particular....more

Third Circuit Rules in Favor of Noteholders on Make-Whole Provision in Debt Indenture

Debt indentures often contain what is known as a “make-whole” provision, which requires the borrower, upon an early repayment of the debt, to make an additional payment to the lender to compensate the lender for its...more

IRS Releases December 2016 AFRs

Table of AFR rates for December, 2016....more

"Looking Ahead: The U.S. Legal and Regulatory Environment Under a Trump Administration"

Election Day brought an end to a long period of uncertainty that caused market fluctuations and delayed business planning decisions. As we navigate the post-election landscape, many questions remain regarding the potential...more

November Surprise? Ninth Circuit Resurrects Post-Default Interest

The additional “default interest” owed when a borrower defaults under a loan agreement is a technical but highly critical part of any lending arrangement. This important “default interest” was the subject of a recent Ninth...more

Your Predictions for 2017 (Part Two of Five)

Continuing from yesterday, we are sharing the poll results of attendees at our recent Senior Housing Symposium.   The second question we asked was regarding interest rates for 2017 and whether attendees thought there would be...more

CFPB Files Suit Against Pawnbroker for TILA Violations

On November 3, the Consumer Financial Protection Bureau (CFPB) announced that it filed suit against a Virginia pawnbroker, alleging that the pawnbroker violated the Truth in Lending Act (TILA) and Consumer Financial...more

Georgia Supreme Court Rejects Attempts to Narrow State Payday Lending Act

Last week, in Western Sky Financial v. State of Georgia, the Georgia Supreme Court issued a decision rejecting challenges to the state's Payday Lending Act (the "Act") and affirming the denial of a motion to dismiss claims...more

Have Your Cake and Eat it Too? “Zeroed Out” Grantor Retained Annuity Trusts

With IRS-prescribed interest rates at historic lows and much like Intra-Family Loans described in a previous blog, a Grantor Retained Annuity Trust (GRAT) presents an excellent opportunity to transfer wealth to lower...more

Your Daily Dose of Financial News

Soooooo . . . about that whole Brexit thing. A UK High Court has ruled that Britain’s EU withdrawal cannot move forward without the approval of Parliament, setting off more uncertainty and what’s expected to be a series of...more

Payday Lender Pays $3.5M to Illinois AG

Keeping regulator focus on payday lending alive, Illinois Attorney General Lisa Madigan announced a $3.5 million settlement with a lender accused of violating the state’s cap on interest rates....more

Your Daily Dose of Financial News

The CFTC’s reportedly investigating the interest rate swap activities of Citigroup and others. Swaps allow companies to “hedge against a rise or fall in interest rates on the debt that they issue or hold, with banks usually...more

IRS Releases November 2016 Interest Rates

The 7520 rate for November 2016 has remained at 1.6%. The November 2016 Applicable Federal Interest Rates can be found below....more

European Banking Authority Publishes Final Guidelines on Corrections to Duration for Debt Instruments under Capital Requirements...

The European Banking Authority published final Guidelines on the correction required for the calculation of Modified Duration for debt instruments subject to prepayment risk under the Capital Requirements Regulation...more

Balancing the Equities: Default Interest Rate Adjusted as Bankruptcy Court Weighs in on Critical Issue

Can a bankruptcy court apply its equitable powers to adjust the default rate for post-petition interest owed to over-secured creditors? The Bankruptcy Court for the District of Puerto Rico recently held that the Bankruptcy...more

Bank of England Consults on Reform of Sterling Overnight Index Average Interest Rate Benchmark

The Bank of England published a consultation paper on the Bank’s proposals to reform the Sterling Overnight Index Average Interest Rate Benchmark, known as SONIA. The Bank of England, which took over as administrator of SONIA...more

DOJ Settles Fair Lending Claims Based on Bank's Pricing Policy for Vehicle-Secured Loans

The U.S. Department of Justice (DOJ) has announced a proposed consent order with Charter Bank to settle charges that the bank violated the Equal Credit Opportunity Act (ECOA) by discriminating on the basis of national origin...more

Wealth Management Update - October 2016

October Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The October Section 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

CFPB Brings Administrative Lawsuits Against Five Arizona Title Lenders

On September 21, the Consumer Financial Protection Bureau (CFPB) announced that it filed five individual administrative lawsuits against Arizona title lenders. Each suit concerns allegations that the title lenders’...more

Rejecting "True Lender" Arguments, California District Court Dismisses Claims Against Student Loan Servicers

This past Thursday, September 22, a federal district court in the Central District of California dismissed an action raising usury claims against several student loan servicers, rejecting the plaintiffs' arguments based on...more

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