A place to talk everything assets... from industry topics to individual solutions, we want to ensure understanding assets is on the agenda.
12 months on from the Arena Holding closure that impacted the entire asset finance industry, the PRA have released a report highlighting the main areas of concern that allowed the impact to become so large and run for so long. This article provides a summary of the PRA report on Arena Holdings Group and potential solutions that can be put in place to cater for many suggestions made by the PRA report.
"The large number of UK lenders with connections to the failed Arena Holdings Group, and the total exposure across all the lenders being disproportionate to the size of Arena, raised questions around the robustness of banks’ credit risk management frameworks and controls in the asset finance sector."
It can’t be done is the standard response to the question of why the asset finance industry does not have an asset register that works for all assets beyond the motor industry. Find out why we think otherwise.
Explore why so many think one asset register for all asset types is so hard to build and the fundamentals that Open Assets has applied to disprove this.
Solving Arena. Asset identity verification confirms that the information used to create the identity is accurate and can correctly identify the asset in the real world.
Often assets aren’t just one solid piece of material. Instead, they are constructed from component parts. This poses additional risks to a funder.
Can an asset interest register be created for the asset finance industry?
