Lots of unsaid commentary going on with the Bank of Canada’s move today to inject $2Bn liquidity into the Canadian Banking system. In effect the move removes risk from Canadian Banks balance sheets, and takes risk on to the central Bank. The amount is not large in money market terms but it does send signals that the Central Bank is watching carefully. reportonbusiness.com: Central bank injects $2-billion into m
Javelin Strategy and Research » Riverside residents recommend social lending Web sites – Annotated tags: social lending, p2p lending, javelin, clblog While the sites are not yet grabbing huge chunks of business from traditional banks, Javelin projects that the demand for social lending services to pay off credit card debt could grow from $38 billion in 2007 to $159 billion by 2012.
Laura at Canadian Business tackles some of the more interesting issues within p2p lending in her article posted tonight. This one is key. Canadian Business Online: Breaking financial news and daily top business, company and technology news There are kinks to work out, of course. One key question: who takes advantage of the service? Who borrows from Community Lend? And who makes money off it? Folks with top notch cred
Jim Bruene over at Netbanker, quotes Prosper Marketplace on their reaction to Lending Clubs announcement earlier this week. The key quote is emphasised for reference. Lending Club Abruptly Shuts Down Peer Lending (NetBanker) Person-to-person lending is an increasingly popular way for individuals to borrow and lend money at attractive interest rates. Understandably it must be done in a secure and trusted way. While we
Very clear quotes from a lawyer quoted on Techcrunch. They also ask the question, as to how these SEC regulations will apply to others in US. No doubt we will hear more over the next while. Lending Club Puts Hold on Lending Activity While It Sorts Out Some Legal Issues … … its borrowing practices could be interpreted as the sale of securities, which requires a license Lending Club doesn’t appear to have.T
Lending Club have eliminated new lender registrations, and suspended existing lender bidding on their site. Important Information – Lending Club Lending Club has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future. Until we complete the registration process, we will not accept new lender registrations
5 Ways To Lend Money Online Annotated tags: p2p lending, clblog With the United States’ economy flirting with the word “recession”, people are looking to get out of debt. Banks aren’t always eager to give out loans for things like paying off a credit card, and this situation has given rise to social lending. Some sites let you collect interest as the lender, and some simply give you the opportunity to help
Lending Club in the US is featured on ABC News. Prosper Lending Review: ABC News: Banking on Strangers ABC News features a Lending Club borrower and lender on Social Lending Networks, New Alternative to Banks.
FORUM Solutions Discovering the Social Economy Annotated tags: social economy, clblog William is doing a good job at evolving the discussion – “social economy” I tend to define the social economy a little more broadly: as that increasing part of our society’s economic decision-making that is influenced by emerging social tools. The water cooler is now global, and people can influenc