Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

05 May 2009

IFSL City Indicators Bulletin - May 2009


London has been deeply affected by the crisis with some firms and markets undergoing major restructuring. The expectation is that the pace of decline of business in financial services would moderate considerably in the second quarter.

London has been deeply affected by the crisis with some firms and markets undergoing major restructuring in the short to medium term as a result of the credit crunch. The report found that there was a further general downturn in financial market activity in the first quarter with all 12 indicators declining over the 12 months to the first quarter of 2009.

 

Although the CBI’s quarterly survey found that the volume of business in financial services continued to decline in the first quarter, the expectation is that the pace of decline would moderate considerably in the second quarter.

 

In the UK several banks and other mortgage lenders have either been nationalised or been recapitalised and the estimated cost to the UK taxpayer could reach £50bn. In European securitisation markets activity has been mainly limited to repurchase schemes operated by the central banks. Hedge fund assets managed in London have declined by over a third to $270bn, due to poor performance and investor redemptions.

 

Full bulletin download

 



© IFSL - International Financial Services London

Documents associated with this article

IFSL City Indicators Bulletin - May 2009.pdf


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment