This paper reviews peer-to-peer (P2P) lending, its development in the UK and other countries, and assesses the business and economic policy issues surrounding this new form of intermediation. P2P platform technology allows direct matching of borrowers and lenders diversification over a large...

This paper examines the expansion of credit in the UK over the years 1997-2007 and the subsequent loan losses on UK sterling lending. This was a substantial credit expansions especially in lending secured on property. This led to only relatively modest losses for UK banks on residential mortgage...

The current global financial crisis has seen both substantial credit impairment and pronounced market illiquidity, undermining bank balance sheets and creating a global credit contraction. One consequence has been a dramatic shift in monetary transmission. Central banks can no longer closely...