AGP Executive Report
Last update: 2 hours agoBudget and Banks: Chancellor John Healey’s Budget raises taxes on bank profits to help fund household energy support. Lloyds criticised the levy as unhelpful to growth after reporting £2.3bn in third-quarter profit; lenders warn higher costs could feed through to mortgages and savings. Housing Finance: UK mortgage approvals fell for a third month in September, adding to signs of a cooling market as borrowers face pressure from higher rates and household costs. Digital Finance: The Bank of England is consulting on how clearing houses can accept tokenised collateral, provided it remains transferable and reliable under stress. The FCA also settled its first court case against a crypto firm over unlawful promotions: HTX will leave the UK, block new sign-ups and stop deposits. Fintech Oversight: The Bank of England has ordered an independent review of Revolut’s product approval controls, adding scrutiny as the digital bank expands into Spain.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
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