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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
Open Discussion: Interest Rates, Mortgages, Savings Rates, and the Banking Industry
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<blockquote data-quote="ThisBarbieWantsToBeALawyer" data-source="post: 145074" data-attributes="member: 29744"><p>I’m not very confident with my commercial knowledge and applying it to law but I thought I’d give it a go… </p><p></p><p>Given the high interest rates have been caused by inflation rather than economic growth one challenge retail banks in particular may encounter is a reduction in overall profit. The increased interest rates although beneficial to banks may also encourage the defaulting of loans as consumers struggle to keep up with the high interest rates and soaring costs of living. Additionally, as customers are yet to see the benefits of the increased rates on their savings some customers may be tempted to repay their loans in full instead. This could potentially affect how banks plan their interest management risk. </p><p></p><p>For commercial law firms finance teams of those representing retail banks may decide to advise their clients on different ways of restructuring interest risk and handling loan defaults . This could be done through exclusive advisory reports or emails. Another option could be leveraging legal tech or the use of slightly cheaper legal personnel such as paralegals or trainees to keep costs down amidst the rising costs of outsourcing work for businesses. </p><p></p><p>I still have a long way to go but I’m looking forward to the new series and seeing my improvement.</p></blockquote><p></p>
[QUOTE="ThisBarbieWantsToBeALawyer, post: 145074, member: 29744"] I’m not very confident with my commercial knowledge and applying it to law but I thought I’d give it a go… Given the high interest rates have been caused by inflation rather than economic growth one challenge retail banks in particular may encounter is a reduction in overall profit. The increased interest rates although beneficial to banks may also encourage the defaulting of loans as consumers struggle to keep up with the high interest rates and soaring costs of living. Additionally, as customers are yet to see the benefits of the increased rates on their savings some customers may be tempted to repay their loans in full instead. This could potentially affect how banks plan their interest management risk. For commercial law firms finance teams of those representing retail banks may decide to advise their clients on different ways of restructuring interest risk and handling loan defaults . This could be done through exclusive advisory reports or emails. Another option could be leveraging legal tech or the use of slightly cheaper legal personnel such as paralegals or trainees to keep costs down amidst the rising costs of outsourcing work for businesses. I still have a long way to go but I’m looking forward to the new series and seeing my improvement. [/QUOTE]
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Aspiring Lawyers - Interviews & Vacation Schemes
Commercial Awareness Discussion
Open Discussion: Interest Rates, Mortgages, Savings Rates, and the Banking Industry
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