Seeking the rationale behind structured finance
While traditionally associated almost exclusively with balance sheet management by financial institutions, structured finance is now being embraced by an increasing number of companies as their financing method of choice. Yet the exact circumstances in which these complex arrangements make sense are not well understood. This article sheds some light on a topic that is at the frontier of financial innovation.
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Switching tracks: the regulatory implications of Great British Railways—part 2
In this two-part series, we delve into the regulatory implications of rail reform. This reform will bring significant changes to the industry’s structure, including the nationalisation of private passenger train operations and the creation of Great British Railways (GBR)—a vertically integrated body that will manage both track and operations for… Read More
Cost–benefit analyses for public policy
Cost–benefit analyses (CBA) are commonly applied to public infrastructure projects where there is a degree of certainty about the physical output of the project and the consequent societal benefits. CBA can also be applied to proposed policy and regulatory changes, but there is less clarity about the outcomes and the… Read More