Jurisdiction(s):
United Kingdom

Key definition

Loans definition

What does Loans mean? Loans are agreements to advance money on terms of repayment, usually with interest. In pensions practice, this covers any arrangement where occupational pension scheme assets are lent. In Great Britain, legislation defines “employer-related investments” and strictly restricts them: section 40 of the Pensions Act 1995 (mirrored in Northern Ireland legislation) and the Occupational Pension Schemes (Investment) Regulations 2005 prohibit loans to the sponsoring employer or to persons connected with, or associated with, the employer, and ban giving guarantees or security for the employer’s obligations. Other employer-related investments (such as employer shares or securities) are subject to a...

Italy: Cross-Border Lending Regulation, Security, Guarantees, Taxes, Enforcement, Intercreditor and Governing Law Considerations—Guidance for UK Finance Lawyers

Published by a LexisNexis Banking & Finance expert

Practice notes

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Loan market and developments

The loan landscape has shifted in response to the economic and financial downturn. That crisis exposed weaknesses in a corporate funding paradigm built predominantly on bank Lending, underscoring the requirement for alternative financing channels. According to the Bank of Italy, lending contracted during the crisis, most notably for SMEs, confirming the Italian market’s negative trajectory despite greater liquidity across the system. With fewer Loans available, transactions were predominantly arranged as club deals or as bilateral facilities, while only a small number of financings were arranged on a syndicated basis. These patterns emerged notwithstanding the notable increase in liquidity within the system. Syndicated transactions were the exception rather than the rule, appearing only in limited circumstances. The Italian market nevertheless experienced some Activity in the issuance of bonds by large corporates outside the banking sector, providing a partial and pragmatic route to funding. Over the last few years, however, and from a general perspective, the Italian banking sector has been strengthening. That improvement is seen above all in the fall in non-performing loans (NPLs) held by financial institutions, a trend that illustrates the system’s ongoing strengthening...

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Web page updated on 21/05/2026

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