{"id":4617,"date":"2026-07-13T09:41:54","date_gmt":"2026-07-13T09:41:54","guid":{"rendered":"https:\/\/phomsouphalaw.com\/?p=4617"},"modified":"2026-07-13T09:45:31","modified_gmt":"2026-07-13T09:45:31","slug":"risk-regulation-and-lending-an-examination-of-banking-regulation-customer-relations-and-debt-finance","status":"publish","type":"post","link":"https:\/\/phomsouphalaw.com\/?p=4617","title":{"rendered":"Risk, Regulation, and Lending: An Examination of Banking Regulation, Customer Relations, and Debt Finance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"4617\" class=\"elementor elementor-4617\" data-elementor-settings=\"[]\">\n\t\t\t\t\t\t<div class=\"elementor-inner\">\n\t\t\t\t\t\t\t<div class=\"elementor-section-wrap\">\n\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-68a6f9f0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"68a6f9f0\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t\t\t<div class=\"elementor-row\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-35979f8\" data-id=\"35979f8\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-column-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-21698f00 elementor-widget elementor-widget-text-editor\" data-id=\"21698f00\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-text-editor elementor-clearfix\">\n\t\t\t\t\t<p style=\"text-align: center;\"><span style=\"font-size: 14pt;\"><strong>Risk, Regulation, and Lending: An Examination of Banking Regulation, Customer Relations, and Debt Finance<\/strong><\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Author:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Mr Xaypaseuth Phomsoupha, PhD, Solicitor-at-Law<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Editing Note: &nbsp;&nbsp;&nbsp; This abridged article, derived from the original manuscript submitted in 2024 to The University of Law, London, is intended to serve as a reference for postgraduate students specialising in commercial and financial law and for academic staff engaged in legal education at universities in the Lao PDR.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-size: 12pt;\">________________________<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">As money creation has evolved, economies worldwide have regulated fiat money through their respective banking systems. Historically, a state\u2019s currency has signified the nation\u2019s sovereign status and served as a monetary unit for valuing goods and services that individuals and businesses have traded and paid for with various financial means.<a href=\"#_ftn1\" name=\"_ftnref1\">[1]<\/a> A centralising body exists as money moves, physically or electronically, from one hand to another. Banking business activities intertwine central bank functions with the operations of commercial banks and other financial institutions.<a href=\"#_ftn2\" name=\"_ftnref2\">[2]<\/a> Commercial banks\u2019 operations are characterised by deposits, borrowing, securitising, and lending, while supervisory oversight is forward-looking and guided by a prudential framework.<a href=\"#_ftn3\" name=\"_ftnref3\">[3]<\/a> This paper seeks (1) to reexamine regulation restructuring efforts following the 2007-2009 Global Financial Crisis relative to the prudential approach that banking institutions have taken to tackle risks; (2) to analyse the relationship between lending banks and clientele in regard to loan facility arrangements; and (3) to explain contractual arrangements laid out in the LMA loan agreement template to protect parties\u2019 interests.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">The author admits that the original version of this article was prepared and submitted to The University of Law, London, and was primarily based on legal principles, regulatory developments, and banking practices in the United Kingdom. In producing this abridged version, the author\/editor seeks to contextualise the discussion within the banking regulatory environment of the Lao People&#8217;s Democratic Republic (Lao PDR). While the legal authorities, regulatory institutions, and market conditions discussed in the original work largely originate from the United Kingdom, the underlying concepts of prudential regulation, banker\u2013customer relationships, and debt finance provide valuable insights for examining the continuing development of the Lao banking sector. Accordingly, references to Lao banking practice are intended to offer a comparative perspective rather than a comprehensive analysis of Lao banking law.<\/span><\/p>\n<ol>\n<li><b><span style=\"font-size: 12pt;\"><a name=\"_Toc168409457\"><\/a> THE REGULATION OF BANKS<\/span>\n<\/b><ul>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409458\"><\/a> Introduction<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><span style=\"font-size: 12pt;\">Historically, banks have undergone upheavals that have adversely affected owners, operators, clients, and others due to factors such as money movement, policy changes, and institutional evolution.<a href=\"#_ftn4\" name=\"_ftnref4\">[4]<\/a> The disruption did not affect the banking system in a single jurisdiction but was also contagious to other financial institutions domiciled worldwide.<a href=\"#_ftn5\" name=\"_ftnref5\">[5]<\/a> Severance occurred in the financial sector and spilt over into other industries that utilise money in the economy.<a href=\"#_ftn6\" name=\"_ftnref6\">[6]<\/a> To prevent repercussions for the banking sector, nations worldwide have tasked state-owned banks with managing the systemic risk the entire banking system faces in its operations.<a href=\"#_ftn7\" name=\"_ftnref7\">[7]<\/a> Thus, state-made rules are essential instruments for banking operations.<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409459\"><\/a> Failure of Bank Regulation<\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\">Structural failures in the global banking system typified the 2007-2009 Global Financial Crisis (GFC), during which financial risk began exposing deep-seated vulnerabilities to financial institutions in many parts of the global economy.<a href=\"#_ftn8\" name=\"_ftnref8\">[8]<\/a> Before the crisis, financial institutions engaged in increasingly risky lending and securitising activities, such as creating and trading complex mortgage-backed securities.<a href=\"#_ftn9\" name=\"_ftnref9\">[9]<\/a> People involved in the banking business were doubtful about the extent to which regulators regulated businesses, allowing excessive risk-taking approaches to rise.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">Another regulatory shortcoming was the overreliance on self-regulation, whereby regulators often defer to financial institutions&#8217; internal risk management models, assuming they can manage their own risks effectively.<a href=\"#_ftn10\" name=\"_ftnref10\">[10]<\/a> The fragmented regulatory structure in the United States, with multiple agencies overseeing different aspects of the financial system, hindered effective coordination and oversight.<a href=\"#_ftn11\" name=\"_ftnref11\">[11]<\/a> The originate-to-distribute model created perverse incentives, leading lenders to sell mortgages to investors rather than hold them on their books.<a href=\"#_ftn12\" name=\"_ftnref12\">[12]<\/a> This led to a decline in underwriting standards and a proliferation of subprime mortgages, often made to borrowers with poor credit histories.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">The 2007-2009 Global Financial Crisis resulted from a confluence of factors, including lax regulation, flawed risk management models, perverse incentives, and the growth of the shadow banking system.<a href=\"#_ftn13\" name=\"_ftnref13\">[13]<\/a> Scholars believe that significant regulatory changes in the financial industry help prevent a similar future crisis.<a href=\"#_ftn14\" name=\"_ftnref14\">[14]<\/a> Thus, the crisis lessons sent regulators a message to reform financial regulation.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409460\"><\/a> Prudential Regulation<\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\">Macroprudential regulation, established by central banks, seeks to protect the whole banking sector against systemic risks, ensuring adequate capital and market, counterparty, and operational risks.<a href=\"#_ftn15\" name=\"_ftnref15\">[15]<\/a> These tools help maintain stability within the financial sector over time.<a href=\"#_ftn16\" name=\"_ftnref16\">[16]<\/a> The tools were believed to be a corrective measure against bank failures. It, on the other hand, focuses on individual banks. It emerged after bank failures in the 1970s and centres on capital adequacy requirements.<a href=\"#_ftn17\" name=\"_ftnref17\">[17]<\/a> The Basel Capital Accord 1988 classified asset risk weights, influenced bank investment decisions, addressed broader risks beyond credit risk, and emphasised capital, transparency, and market rules.<a href=\"#_ftn18\" name=\"_ftnref18\">[18]<\/a> Each bank dealing with money abides by the instrument at a micro level.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">The two prudential instruments aim to protect assets and mitigate systemic risk through adherence to common rules.<a href=\"#_ftn19\" name=\"_ftnref19\">[19]<\/a> However, the global financial sector&#8217;s interconnectedness can lead to contagious risks that require adequate supervision, even when comprehensive regulation is in place.<a href=\"#_ftn20\" name=\"_ftnref20\">[20]<\/a> Regulators must anticipate potential financial disasters and establish frameworks with appropriate risk coverage, monitoring steps, and supervision. Businesses tend to believe that prudential regulation helps manage systemic risk; however, one may question the efficacy of a forward-looking approach in the absence of adequate supervision.<a href=\"#_ftn21\" name=\"_ftnref21\">[21]<\/a> Regulators must establish a regulatory framework to save financial institutions from anticipated financial disasters. <a href=\"#_ftn22\" name=\"_ftnref22\">[22]<\/a> The author also contends that not all scholars moved in the same direction, with some arguing that the prudential frameworks designed before the COVID-19 financial shock were countercyclical or procyclical.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\">1.3.3. &nbsp;&nbsp; Lehman Brothers&#8217; collapse illustrated the limitations of the regulation at the time. Despite prudential measures, the bank&#8217;s failure led to significant distress and insolvency proceedings for its subsidiaries.<a href=\"#_ftn23\" name=\"_ftnref23\">[23]<\/a> The causes included risky lending practices, the collapse of the US housing market, overreliance on credit rating agencies, and the interconnectedness of global financial markets.<a href=\"#_ftn24\" name=\"_ftnref24\">[24]<\/a> Unlike other institutions, Lehman Brothers&#8217; parent company was not bailed out by US authorities, leading to international claims and bankruptcy proceedings.<a href=\"#_ftn25\" name=\"_ftnref25\">[25]<\/a> Indeed, the 2007-2009 crisis adversely affected European financial institutions, including those in the UK. In the Lehman Brothers International (Europe) case, Lord Hope opened the proceedings by outlining the core issue: the application and interpretation of client money rules under Chapter 7 of the Client Assets Sourcebook (&#8220;CASS 7&#8221;).<a href=\"#_ftn26\" name=\"_ftnref26\">[26]<\/a> This regulatory framework, established by the Financial Services Authority (FSA), aimed to protect and manage client funds in European Union markets under the Financial Instruments Directive (MiFID).<a href=\"#_ftn27\" name=\"_ftnref27\">[27]<\/a> The trust under English law arose when the client&#8217;s money was received, or funds were segregated from the firm&#8217;s assets. <a href=\"#_ftn28\" name=\"_ftnref28\">[28]<\/a> After a thorough examination, the Supreme Court ruled that the statutory trust was established. The client&#8217;s money was immediately protected from the moment it was received by the firm, even if it had not yet been segregated into a separate account.<a href=\"#_ftn29\" name=\"_ftnref29\">[29]<\/a> In essence, the Supreme Court&#8217;s ruling reinforced the importance of safeguarding client assets. It clarified that the protection of client funds is not contingent upon segregation but is instead an immediate obligation upon receipt.<a href=\"#_ftn30\" name=\"_ftnref30\">[30]<\/a> This landmark decision underscores the regulatory intent behind CASS 7 and MiFID, ensuring a higher level of protection for clients in the complex world of financial markets. In this case, the dismissal of the appeal ultimately solidified the interpretation of client money rules, offering clarity and reassurance to clients and firms operating within the MiFID framework.<a href=\"#_ftn31\" name=\"_ftnref31\">[31]<\/a> This decision is a powerful precedent, further strengthening the regulatory landscape surrounding client asset protection.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">1.3.4.&nbsp;&nbsp;&nbsp; It is debatable whether regulatory oversight differs between countries, depending on local laws and the specific authorities involved. While US regulators bailed out Bear Stearns, Fannie Mae, and Freddie Mac, UK authorities did not similarly support Lehman Brothers&#8217; European parent company.<a href=\"#_ftn32\" name=\"_ftnref32\">[32]<\/a> The move highlighted how public policy towards financial regulation varied across jurisdictions, leading to different outcomes in monetary matters.<\/span><\/p>\n<h2><span style=\"font-size: 12pt;\"><a name=\"_Toc168409461\"><\/a>1.4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Summary<\/span><\/h2>\n<p><span style=\"font-size: 12pt;\">1.4.1.&nbsp;&nbsp;&nbsp; Many scholars inferred that the banking crisis originating in the US financial system sparked the 2007-2009 Global Financial Crisis, which was contagious to other parts of Europe, including the UK.<a href=\"#_ftn33\" name=\"_ftnref33\">[33]<\/a> Since then, regulatory reforms have resonated with a forward-looking approach until another round of financial shock resulted from COVID-19.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">1.4.2.&nbsp;&nbsp;&nbsp; Macro-prudential regulation addresses systemic risk in the banking industry, while micro-prudential regulation applies to individual banks; both aim to ensure capital adequacy, supervision, and risk mitigation.<a href=\"#_ftn34\" name=\"_ftnref34\">[34]<\/a> Combining macro and micro-prudential approaches may mitigate systemic risk and promote financial stability and growth of the entire banking sector.<a href=\"#_ftn35\" name=\"_ftnref35\">[35]<\/a> Hence, regulatory bodies must carefully consider home-jurisdictional and geopolitical factors when formulating prudential instruments.<\/span><\/p>\n<ol start=\"2\">\n<li><b><span style=\"font-size: 12pt;\"><a name=\"_Toc168409462\"><\/a> THE RELATIONSHIP BETWEEN BANKS AND CUSTOMERS<\/span>\n<\/b><ul>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409463\"><\/a> Introduction<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><span style=\"font-size: 12pt;\">In the wake of banking globalisation, several banks provide a range of services to clients within national jurisdictions and, in most cases, within international frameworks.<a href=\"#_ftn36\" name=\"_ftnref36\">[36]<\/a> Banks set out rules that service users must abide by.<a href=\"#_ftn37\" name=\"_ftnref37\">[37]<\/a> The interaction between a bank and its service users creates a relationship between service providers and those involved in financial transactions.&nbsp; &nbsp;&nbsp;<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409464\"><\/a> Bank\u2019s Common Law Duties<\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\"><em>Confidentiality<\/em>. Customers always entrust banks to provide services that protect their interests from harm. The banks are obligated not to disclose customers\u2019 sensitive information to any third party without the prior written consent of the information owners, unless such disclosure is mandated by judicial authority.<a href=\"#_ftn38\" name=\"_ftnref38\">[38]<\/a> Under certain circumstances, banks must abide by the rule against releasing client-classified information to any third party. Unsettled disclosure of information may also affect the interests of customers using related services across the entire banking system.<a href=\"#_ftn39\" name=\"_ftnref39\">[39]<\/a> The bank&#8217;s obligation to keep customers\u2019 information confidential during a service period was legislated into law in the UK and subsequently revised.<a href=\"#_ftn40\" name=\"_ftnref40\">[40]<\/a> However, statutes mandating judicial orders may require banks to disclose information to officials assigned to investigation and prosecution. In <em>Barclays Bank Plc v Kevin Taylor,<a href=\"#_ftn41\" name=\"_ftnref41\">[41]<\/a><\/em> Customers took court action in appealing against Barclays Bank, with which they had a joint account; they claimed that the bank disclosed their details to the police and caused their interests to suffer due to the bank\u2019s breach of its duty of confidentiality. In her judgement, Bankes L.J. dismissed the appeal, stating that Barclays had a public duty to disclose the required information to the police.<a href=\"#_ftn42\" name=\"_ftnref42\">[42]<\/a> Irrespective of confidentiality, all banks have obligations to keep the public informed of facts under extraordinary circumstances. &nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/li>\n<li><span style=\"font-size: 12pt;\"><em>Reasonable Skill and Care<\/em>. As institutions, banks have a duty to serve their customers with diligence and professionalism and to protect customers&#8217; financial interests from fraud-related losses. Banks are legally obligated to safeguard their clients&#8217; interests, whether they are depositors, borrowers, or investors. <a href=\"#_ftn43\" name=\"_ftnref43\">[43]<\/a> This includes a duty to promptly repay deposits upon demand, unless specific circumstances, such as insufficient funds or unclear instructions, prevent repayment.<a href=\"#_ftn44\" name=\"_ftnref44\">[44]<\/a> Customers must receive the amount they deposited with the bank whenever a demand is lodged. <a href=\"#_ftn45\" name=\"_ftnref45\">[45]<\/a> However, banks refuse to return money to customers on specific grounds, such as insufficient funds, lack of an overdraft facility, and ambiguous customer instructions; abrogation by court orders is another ground for withholding repayment to their customers.<a href=\"#_ftn46\" name=\"_ftnref46\">[46]<\/a> The Bank in <em>London Joint Stock Bank v Macmillan and Arthur <a href=\"#_ftn47\" name=\"_ftnref47\">[47]<\/a> <\/em>made payment even though the Claimants contended that a Clerk working for them wrote himself a numerical amount on a cheque signed by his manager. Upon presentation of a cheque in a form satisfactory to the banking requirements, the Respondent Bank, with no guilt, made a payment out of the firm\u2019s account to the cheque presenter. Fletcher Moulton L.J. stated, \u201cSo soon as the blank space had been filled up in words by their agent, the Claimants are responsible to the same extent as if they had themselves inserted the words.\u201d<a href=\"#_ftn48\" name=\"_ftnref48\">[48]<\/a> Ultimately, banks are expected to provide competent service within their scope to both clients and those connected to them.<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409465\"><\/a> Bank\u2019s Duties to Protect Customers\u2019 Interests Against Poor Conduct in the Banking System<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\">Given the limitations of this paper, this section focuses on the two banks\u2019 duties that are assumed to be appropriate for the author to address the question above.<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\">Avoidance of fiduciary liability exists when a bank\u2019s ordinary course of service has an inroad into a conflict of interest with one or more customers within the same or related transaction.<a href=\"#_ftn49\" name=\"_ftnref49\">[49]<\/a> An example is when a bank serves two customers in a property transaction. As the investment adviser, the bank has to provide the buyer with the purchaser&#8217;s financial standing. However, when acting as a banker, it must keep its customers&#8217; financial information confidential.<a href=\"#_ftn50\" name=\"_ftnref50\">[50]<\/a> Banks can avoid fiduciary liability by providing diligent advice to customers whose positions may conflict with those of others. In <em>Commonwealth Trading Bank of Australia v Smith,<a href=\"#_ftn51\" name=\"_ftnref51\">[51]<\/a><\/em> two customers, one acting as the seller and the other as the buyer, sought advice from the same banker on the hotel business and took court action against the bank for failing to disclose a buyer\u2019s financial report. Under such circumstances, the Court held that the Commonwealth Trading Bank assumed fiduciary liability to the owners of the financial report and did not breach its duty.<a href=\"#_ftn52\" name=\"_ftnref52\">[52]<\/a> When a banker serves two conflicting roles, deferring to the judiciary\u2019s decision helps resolve the dilemma. &nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\">2.2.2. Undue influence arises when a banker exploits their position of trust to manipulate a customer&#8217;s financial decisions, leading to detrimental outcomes.<a href=\"#_ftn53\" name=\"_ftnref53\">[53]<\/a> This behaviour violates the fiduciary duty banks owe their clients and undermines the banking sector&#8217;s core principles of fairness and transparency.<a href=\"#_ftn54\" name=\"_ftnref54\">[54]<\/a> Such influence can manifest in various ways, including pressuring vulnerable customers into risky investments, persuading them to take on unsuitable loans, or intentionally providing misleading financial information.<a href=\"#_ftn55\" name=\"_ftnref55\">[55]<\/a> Any actions that exploit a customer&#8217;s vulnerability and result in financial harm fall under undue influence.<a href=\"#_ftn56\" name=\"_ftnref56\">[56]<\/a> Likewise, bank officials who carelessly provide misrepresented financial information to customers aggrieved by such information may not escape undue influence. The consequences of undue influence are far-reaching and damaging. For the customer, it can lead to significant financial loss, emotional distress, and a loss of trust in the banking system.<a href=\"#_ftn57\" name=\"_ftnref57\">[57]<\/a> For the bank, it can result in reputational damage, regulatory scrutiny, and potential legal action. In the broader context, undue influence erodes public confidence in the banking sector, which is crucial for a stable and healthy economy.<a href=\"#_ftn58\" name=\"_ftnref58\">[58]<\/a> To address this issue, regulators must establish robust measures. The Financial Conduct Authority (FCA) is critical to setting clear standards of conduct for banks, enforcing them, and holding institutions accountable for wrongdoing.<a href=\"#_ftn59\" name=\"_ftnref59\">[59]<\/a> In conclusion, undue influence is a serious form of misconduct in the UK banking system, with significant negative consequences for customers and the industry.<a href=\"#_ftn60\" name=\"_ftnref60\">[60]<\/a> By implementing robust regulatory measures and fostering a strong ethical culture, the banking sector can better protect its customers and rebuild trust with the public.<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\">One may question that most banker-customer contracts regarding transactions, including deposits, loans, mortgages, and transfers, without limitation, tend to be standardised and impossible to negotiate on the customer\u2019s terms. Arguably, the rules governing the preceding trading practices constitute unfair terms of contracts in favour of the banks.<a href=\"#_ftn61\" name=\"_ftnref61\">[61]<\/a> Likewise, the credit agreement template issued by the Loan Market Association takes a take-it-or-leave-it approach, which seems more sympathetic to lenders than to borrowers. &nbsp;&nbsp;<\/span><\/li>\n<\/ul>\n<ul>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409466\"><\/a> Final Note<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 12pt;\">Banks&#8217; duties to their customers range from confidentiality to fiduciary to skilful and diligent service. Customers entrust their banks with information non-disclosure to prevent third parties from harming their financial assets.<a href=\"#_ftn62\" name=\"_ftnref62\">[62]<\/a> Individuals in all positions working for and on behalf of their employer banks must provide services to clients with a duty of care and professional skill.<a href=\"#_ftn63\" name=\"_ftnref63\">[63]<\/a> Poor conduct by individuals acting on behalf of banking institutions jeopardises the interests of those who use banking services, in which case the judiciary steps in to ensure fairness.<a href=\"#_ftn64\" name=\"_ftnref64\">[64]<\/a> Inequality between lenders and borrowers exists in banking arrangements, which the regulators should have monitored closely.&nbsp;&nbsp;<\/span><\/p>\n<ol start=\"3\">\n<li><span style=\"font-size: 12pt;\"><b><a name=\"_Toc168409467\"><\/a> DEBT FINANCE<\/b><\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409468\"><\/a> Security<\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\">Debt finance concerns lending, securitising, and borrowing, in which at least a lender, a security taker, and a borrower partake. The lender places a set of conditions to ensure that the borrower&#8217;s clientele will honour a promise to repay the principal and accrued interest within the agreed-upon time frame.<a href=\"#_ftn65\" name=\"_ftnref65\">[65]<\/a> The borrower wants to use her liquid or illiquid assets to leverage capital to invest in desired business lines.<a href=\"#_ftn66\" name=\"_ftnref66\">[66]<\/a> A borrower usually possesses and intends to use assets comprising many classes as securities for raising loans. As such, the bundling of the borrower\u2019s assets by a third party associated with the lender plays a decisive role in the lender-borrower relationship. &nbsp;<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">In the loan proposal filed by the borrower Carousel Limited (\u201cCarousel Cupcakes\u201d), GBP20 million, split into GBP18 million as a term loan and GBP2 million as a revolving credit facility, will be considered by the lender Maga Bank Plc (\u201cMega Bank\u201d). Given the limited information for the exercise hereunder, acting as a legal counsel for the lender, the author assumes that GBP18 million will be financed in capital expenditure, while GBP2 million in operational expenditure, as laid out in a facility agreement template issued by the Loan Markets Association.<a href=\"#_ftn67\" name=\"_ftnref67\">[67]<\/a> For Carousel Cupcake to produce cupcakes and sweet treats. The author must form legal opinions for the lender as to whether the borrower\u2019s assets can be placed as securities against borrowing.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p><span style=\"font-size: 12pt;\">In formulating legal advice for his client lender, the author shall conduct legal due diligence on Carousel Cupcakes\u2019 assets, including, without limitation, corporate documents, i.e., articles of association, bylaws, minutes of board meetings, outstanding litigations and disputes, if any, and environmental, social, and governance matters, and contractual arrangements, as outlined and theorised in by Practical Law Corporate.<a href=\"#_ftn68\" name=\"_ftnref68\">[68]<\/a> To assess whether Carousel Cupcakes\u2019 assets can be securitised as collateral for borrowing, the author examines legal issues, including contractual arrangements, litigation, and regulatory compliance on the borrower&#8217;s part.<a href=\"#_ftn69\" name=\"_ftnref69\">[69]<\/a> The components below shall be legally analysed in conjunction with a borrower\u2019s financial report issued by a qualified financial adviser.<\/span><\/p>\n<ul>\n<li><span style=\"font-size: 12pt;\">Freehold property directly related to the production in Northampton shall be double-checked as to whether it has proper entitlement qualified for security and without any remaining burden.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">Industrial catering equipment, including freezers, fridges, food processors, and cookers, will be examined to determine whether the entitlements under Carousel Cupcakes are in freeholding or under an existing pledge.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">An exclusive supply contract with Super Foods PLC, worth \u00a3500,000 over three years, will be reviewed to locate whether there are outstanding disputes between the parties thereto.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">With the field advice as may be provided by an outsourced financial consultant or from an in-house financial expert of the legal counsel entity, book debts will be revisited to see whether the current borrower\u2019s debts are serviceable within the given time frame.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">A fleet of delivery vehicles under a hire-purchase agreement with Loan2GO Plc to see whether a negative pledge, set out in the template of the LMA Loan Agreement, is permitted.<a href=\"#_ftn70\" name=\"_ftnref70\">[70]<\/a> Based on the factual information on the hire-purchase known to the author, he presumes that some kinds of securities should have existed to leverage the transaction thereof.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">Finally, the legal counsel shall analyse the assets as itemised above to judge whether Mega Bank can take them as securities for loans to release to Carousel Cupcakes from a legal point of view only.<\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\">In the legal due diligence report, the author must put assumptions and qualifications preceding the legal analysis covering the abovementioned matters.<a href=\"#_ftn71\" name=\"_ftnref71\">[71]<\/a> As the author assumes his duty to provide legal advice, he must closely consult a financial expert about the due diligence with respect to financial reports issued by a qualified chartered professional accountant as required in the Companies Act 2006.<a href=\"#_ftn72\" name=\"_ftnref72\">[72]<\/a> With the limited information given for the exercise herein, the author cannot complete the legal due diligence and assure that all the borrower\u2019s tangible or intangible assets are qualified as securities taken by Mega Bank or its agent in exchange for loans to the borrower. The author will diligently discharge his duty to the employer by requesting additional information to provide his employer with comprehensive legal advice. Thus, acting as Mega Bank&#8217;s legal counsel, the author focuses on legal matters in accordance with his mandate under the employer&#8217;s service agreement.&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 12pt;\"><a name=\"_Toc168409469\"><\/a> Event of Default<\/span>\n<ul>\n<li><span style=\"font-size: 12pt;\">Despite the argument put forward by the author in the preceding part of this paper, the loan agreement template of the Loan Markets Association is regarded as a practical piece of agreement widely used in loan facilities.<a href=\"#_ftn73\" name=\"_ftnref73\">[73]<\/a> The loan agreement, as signed by the parties thereto, should have incorporated clauses addressing, without limitation, events of default by the parties thereto, frustration, and unforeseeable events.<a href=\"#_ftn74\" name=\"_ftnref74\">[74]<\/a> Carousel Cupcakes and Mega Bank shall assign their respective lawyers to monitor the implementation of the executed loan agreement to avoid breaches that either party thereto and\/or their counterparties may commit, whether deliberately or inadvertently. Any written amendment made by one party to the loan agreement shall be consented to by the other party. In <em>Farold Holdings Ltd v Clydesdale Bank Plc<\/em><em>,<a href=\"#_ftn75\" name=\"_ftnref75\">[75]<\/a> <\/em>four small and medium-sized enterprise borrowers filed their claims in respect of fixed interest rate loans with the defendant lender, Clydesdale Bank Plc, arising out of the LMA Loan agreements which each Plaintiff signed with the Defendant from 2002 to 2010. One may be doubtful about how the claims emerged, even though the LMA-template loan agreement was utilised for the transaction. Ultimately, the parties to the loan agreements resolved their differences through a judicial channel, arguing their cases under the provisions of the LMA Loan Agreement.<a href=\"#_ftn76\" name=\"_ftnref76\">[76]<\/a> In performing the loan agreement between Mega Bank and Carousel Cupcakes, Mega Bank realised that after signing the loan agreement, its customer, Carousel, had continuously seen its profit stream decline due to an allegation of chemical contamination in its food products, which might have resulted from circumstances surrounding the customer. Under the preceding circumstances, the obligor Carousel Cupcakes and subsidiaries must maintain its representations and undertakings, including, without limitation, no change of corporate status and financial documents.<a href=\"#_ftn77\" name=\"_ftnref77\">[77]<\/a> Further, the borrower must furnish the lender with financial reports on demand.<\/span><\/li>\n<li><span style=\"font-size: 12pt;\">As the legal counsel presumedly retained by Mega Bank, the author shall diligently investigate issues arising from the loan contract operation. Before revisiting relevant clauses of the loan agreement, the legal counsel must substantiate the allegation by asking the opposing lawyer to provide a field expert report on the product contamination, as may be issued by the Food Standards Agency.<a href=\"#_ftn78\" name=\"_ftnref78\">[78]<\/a> Once the field expert has confirmed contamination and the magnitude of the negative impact on food quality and sales distribution, the lender\u2019s legal counsel must promptly revisit the relevant clauses of the loan agreement with respect to events of default and remedies.<a href=\"#_ftn79\" name=\"_ftnref79\">[79]<\/a> In the event that Carousel is found in default, the acceleration clause will be invoked for Mega Bank.<a href=\"#_ftn80\" name=\"_ftnref80\">[80]<\/a> The default notice served by the lending bank on the borrower in <em>Bank of Scotland v Alexander Morrison<\/em> was proven to be fully compliant and competent.<a href=\"#_ftn81\" name=\"_ftnref81\">[81]<\/a> Defendant failed to repay the loans and interest to the Plaintiff, arguing that the default notice was delivered to the wrong address. The Court dismissed the Defendant\u2019s claim and made the judgment for the Bank.<a href=\"#_ftn82\" name=\"_ftnref82\">[82]<\/a> However, if Carousel Cupcakes is not found in default and the borrower\u2019s revenues are adversely affected by the actions of neither party to the loan agreement, monetary remedies may be sought through other arrangements, such as insurance, when and as available. In <em>Bank of Baroda and others v GVK and others<\/em>,<a href=\"#_ftn83\" name=\"_ftnref83\">[83]<\/a> the Claimants failed to repay their debts to their lenders due to default events, and an acceleration clause was invoked. The Claimants argued that COVID-19, as an event of force majeure, prevented their business from going on as scheduled; the judgment was for the Claimants.<a href=\"#_ftn84\" name=\"_ftnref84\">[84]<\/a> The duty of care in providing legal service owed by a lawyer to his employer is similar to that of a banker to customers with respect to banking services.&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;<\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-size: 12pt;\">Arguably, due diligence on legal matters in the exercise in this paper may not be complete advice to the greatest extent without considering financial and technical advice from relevant field experts.<a href=\"#_ftn85\" name=\"_ftnref85\">[85]<\/a> Furthermore, the facts hypothesised hereunder are insufficient for the author, acting in his capacity as the bank&#8217;s legal counsel for Mega Bank, to conduct a legal analysis in accordance with the principles set out in Practical Law Corporate.<a href=\"#_ftn86\" name=\"_ftnref86\">[86]<\/a> Overall, Mega Bank shall take diligent action to safeguard the reward with respect to proceeds from loans released to the borrower, as reward and risk are always balanced.<\/span><\/li>\n<\/ul>\n<ol start=\"4\">\n<li><span style=\"font-size: 12pt;\"><b>RELEVANCE TO BANKING PRACTICE IN THE LAO PDR<\/b><\/span><\/li>\n<\/ol>\n<p><span style=\"font-size: 12pt;\">4.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The issues discussed in this article have significant relevance to contemporary banking practice in the Lao People&#8217;s Democratic Republic (Lao PDR). Although Laos has not experienced a financial crisis on the scale of the 2007\u20132009 Global Financial Crisis, the lessons drawn from prudential regulation, banker\u2013customer relationships, and debt finance remain highly pertinent to the country&#8217;s developing financial sector.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Bank of the Lao PDR (BOL), as the central monetary authority, performs both macroprudential and microprudential supervisory functions aimed at maintaining financial stability and safeguarding public confidence in the banking system. Similar to the regulatory reforms implemented internationally following the Global Financial Crisis, Laos has gradually strengthened its banking supervision framework by tightening capital adequacy requirements, strengthening risk management standards, enhancing anti-money laundering measures, and enhancing regulatory oversight of commercial banks. Nevertheless, challenges remain due to the relatively small size of the financial market, limited supervisory resources, and increasing integration with regional and international financial systems.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.3. &nbsp;&nbsp;&nbsp;&nbsp; The discussion concerning banker\u2013customer relationships is equally relevant in Laos. Commercial banks are expected to uphold duties of confidentiality, exercise reasonable skill and care, and protect customers from improper conduct. As digital banking services and cross-border financial transactions expand, maintaining customer trust through effective governance and data protection has become increasingly important. Furthermore, financial literacy among customers remains uneven, creating a continuing need for transparent banking practices and responsible lending standards.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.4. &nbsp;&nbsp;&nbsp;&nbsp; The article&#8217;s analysis of debt finance and loan documentation also resonates with banking practice in Laos, particularly in project finance, infrastructure development, and corporate lending. While Loan Market Association (LMA) documentation is not routinely used in domestic lending transactions, international lenders and development finance institutions frequently rely on similar contractual structures when financing large-scale projects in Laos. Consequently, Lao legal practitioners and banking professionals must understand security arrangements, events of default, and creditor protection mechanisms commonly found in international financing agreements.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.5. &nbsp;&nbsp;&nbsp;&nbsp; Overall, the article highlights the importance of sound regulation, responsible banking conduct, and robust loan documentation in supporting the stability and sustainable development of the Lao banking sector.<\/span><\/p>\n<h1><span style=\"font-size: 12pt;\"><a name=\"_Toc168409470\"><\/a>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CONCLUSION<\/span><\/h1>\n<p><span style=\"font-size: 12pt;\">4.1. &nbsp;&nbsp;&nbsp;&nbsp; While the 2007\u20132009 global financial crisis primarily affected advanced financial markets, it highlighted the importance of prudent risk management and regulatory oversight for banking systems worldwide, including those in developing jurisdictions such as the Lao PDR. Although the Lao banking sector remains relatively small and predominantly relationship-based, commercial banks operating in Laos are increasingly involved in cross-border financing and project finance, particularly in the energy, infrastructure, mining, and telecommunications sectors. As a result, Lao banks and borrowers are exposed to many of the same credit, liquidity, and counterparty risks that underpin international lending practices.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.2. &nbsp;&nbsp;&nbsp;&nbsp; In the Lao context, loan agreements serve as the principal legal mechanism governing the relationship between lenders and borrowers. As in international banking practice, lenders generally possess greater bargaining power, particularly when financing is extended by foreign commercial banks, development finance institutions, or syndicated lending groups. Consequently, contractual provisions relating to representations and warranties, covenants, events of default, and enforcement rights play a critical role in protecting lenders against credit deterioration and borrower non-performance.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The increasing use of English-law-governed LMA-based financing documents in major Lao projects demonstrates the influence of international lending standards on domestic banking and finance transactions. In particular, acceleration clauses, cross-default provisions, material adverse effect clauses, and enforcement mechanisms provide lenders with contractual tools to manage risk and preserve asset value in circumstances of borrower default or financial distress. These provisions complement the prudential supervision exercised by the Bank of the Lao PDR and contribute to the overall stability and predictability of banking operations within the Lao financial system.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accordingly, while prudential regulation remains an essential component of financial stability, contractual risk allocation through loan documentation continues to serve as a fundamental mechanism by which banks operating in Laos identify, monitor, and mitigate financial risks. The interaction between regulatory oversight and contractual protections is particularly significant in large-scale project finance and PPP transactions, where lenders rely heavily on sophisticated financing agreements to safeguard their interests throughout the life of the project.<\/span><\/p>\n<h1><span style=\"font-size: 12pt;\"><a name=\"_Toc168409471\"><\/a>BIBLIOGRAPHIES<\/span><\/h1>\n<p><span style=\"font-size: 12pt;\">Case Laws<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Bank of Baroda and others v GVK and others<\/em> [2023] WL 07165255<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Bank of Scotland v Alexander Morrison <\/em>[2024] WL 00780351<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Barclays Bank P.L.C. v Kevin Taylor and Beryl Honora <\/em>[1989] WL 651113<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Commonwealth Trading Bank of Australia v Smith <\/em>[1993] AC 2005<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>London Joint Stock Bank Limited v Macmillan and Arthur <\/em>[1918] A.C.777<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Farol Holdings Ltd v Clydesdale Bank Plc<\/em> [2024] WL 01178040<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Re Judgement in the Matter of Lehman Brothers International (Europe) (In Administration) and in the matter of the Insolvency Act 1986 <\/em>[2012] UKSC<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Tournier v National Provincial and Union Bank of England, <\/em>[1924] 1 K.B. 461 (1923)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Legislation<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Banking Act 2009<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Consumer Rights Act 2015<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Data Protection Act 2018<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Insolvency Act 1986<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Financial Service Act 2012<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Financial Conduct Authority (FCA), <em>The FCA&#8217;s Conduct of Business Sourcebook (COBS),<\/em> COBS 4.2.1R<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Banking: Conduct of Business Sourcebook SCOBS, Release 36, May 2024<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Books<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Amour J, Awrey D, Davies P, Enriques L, Gordon N J, Mayer C, and Payne J, <em>Principle of Financial Regulation <\/em>(Oxford University Press 2016)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Chi HY I and Wilson J, <em>Banking Law and Regulation <\/em>(Oxford University Press 2019)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Cranston R, Avgouleas E, Zwieten van K, Hare C, and Theodor van S, <em>The Principle of Banking Law<\/em> (3<sup>rd<\/sup> edition Oxford University Press 2017)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Ellinger P E, Lomnicka E and Hare V.M.C, <em>Ellinger\u2019s Modern Banking Law <\/em>(5<sup>th<\/sup> edition Oxford University Press 2011)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Kokkinis A, and Miglionico A, <em>Banking Law: Private Transactions and Regulatory Frameworks<\/em> (1<sup>st<\/sup> edition Routledge 2021)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">McKnight A, <em>The Law of International Finance <\/em>(Oxford University Press 2008)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Articles<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Anthony Connerty, \u201cThe credit crunch: the collapse of Lehman Brothers \u2013 and a Hong Kong scheme to handle Lehman claims\u201d, [2010] Amicus Issue 83<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">BIS, \u201cAnnual Economic Report: Bank of International Settlements 2018\u201d [June 2018] https:\/\/www.bis.org\/publ\/arpdf\/ar2018e.pdf&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Christine N. Booth, Undue Influence and Triangular Situation: The Husband, the Wife, and the Bank [1996] L.J., 26 HONG KONG 58, 62-64&lt; https:\/\/heinonline.org\/ HOL\/Page? handle=hein. journals\/honkon26&amp;collection=journals&amp;id=82&amp;startid= &amp;endid=104&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Christopher K. Odinet, \u201cThe Unfinished Business of Dodd-Frank Reforming the Mortgage Contract\u201d [2016] 69 S.M.U.L. REV.653, 680-684&lt; https:\/\/heinonline. org\/HOL\/Page?handle= hein.journals\/ smulr69&amp;collection=usjournals&amp;id=677 &amp;startid=&amp;endid=722&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Daniel Lamb, \u201cA Specter is Haunting the Financial Industry \u2013 The Specter of the Global Financial Crisis: A Comment on the Imminent Expansion of Consumer Financial Protection in the United States, the United Kingdom, and the European Union\u201d [2011], 31 J. NAT\u2019l ASS\u2019n ADMIN. L. JUDICIARY 213,<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Donald Kohn, <em>Institutions for Macroprudential Regulation: the UK and the US, Bank of England<\/em> (2014)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Henrik Doshall and Byron Rom-Jensen, \u201cLetting Lehman GO: Critique, Social Change, and the Demise of Lehman Brothers\u201d [2017] Historical Social Research 42(3) 196-197&lt;https:\/\/doi.org\/10. 12759\/hsr.42.2017.3<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Jakob de Haan, Zhenghao Jin, and Chen Zhou, \u201cMicro-prudential regulation and banks systemic risk\u201d [2019] DeNetherlandscheBank, Working Paper No. 656<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Randall D. Guynn, \u201cThe Global Financial Crisis and Proposed Regulatory Reform\u201d [2010] BYU L. REV. 421, 422-428<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Command Papers<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">FSA, <em>The Turner Review: A regulatory response to the global banking crisis<\/em> [2009]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Basel Committee on Banking Supervision, <em>Basel III: A global regulatory framework for more resilient banks and banking systems<\/em> [Bank for International Settlements 2010]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Practical Law Corporate, <em>Financial Statements: Companies Act 2006 requirements<\/em> (2024 Thomson Reuter)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Jaque de Larosi\u00e8re, <em>Report, <\/em>\u201cThe Highest-Level Group on Financial Supervision in the EU\u201d [2009] &lt;7https:\/\/rl.talis.com\/3\/kcl\/lists\/14A33B2B-7C95-747F-F9D8-FA71547A91D8.html&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Practical Law Finance,) <em>Securities lending, Practical Law UK Practice<\/em> Note 2-2021-9445 (2024 Thomson Reuter)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">LMA, <em>Multicurrency Term and Revolving Facilities Agreement<\/em>, LMA.MTR.10, 28 February 2020<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Practical Law Corporate, <em>Due Diligence: Checklist (International) Practical Law UK Practice<\/em> Note -3935 (2024 Thomson Reuter)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Practical Law Financial Institutions, <em>Bank\u2019s common law duties to customers overview<\/em> (2024)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Consulted Literature<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Edward Thomas Foley v Thomas Hill and Others <\/em>[1848] 9. E.R 1002<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Invest Bank PSC v El-Husseini<\/em> [2024] WL 01910956<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Orr-Adams v Bailey (t\/a G Bailey Services<\/em>) [2013] WL 2460337<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><em>Watchstone Group Plc v PricewaterhouseCoopers Slater, Slater &amp; Gordon (UK) 1 Limited <\/em>[2023] WL 03438156<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Ingrao B, and Sardoni C, <em>Banks and Finance in Modern Macroeconomics: A Historical Perspective <\/em>(Paperback edition Edward Elgar Publishing 2020)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Haynes A, <em>The Law Relating to International Banking <\/em>(2<sup>nd<\/sup> edition Bloomsbury International 2018)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Hudson A., <em>The Law of Finance <\/em>(2<sup>nd<\/sup> edition Sweet &amp; Maxwell 2013)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Jaque L. L, <em>International Corporate Finance: Value Creation with Currency Derivatives in Global Capital Market <\/em>(2<sup>nd<\/sup> edition Willey &amp; Sons Inc., 2020)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Acharya, V. V., Richardson, M., Van Nieuwerburgh, S., &amp; White, L. J. (2011). Guaranteed to Fail: Fannie Mae, Freddie Mac, and the Debacle of Mortgage Finance. <em>Journal of Economic Perspectives<\/em>, 25(1), 193-218.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Barth, J. R., Caprio, G., &amp; Levine, R. (2012). Guardians of Finance: Making Regulators Work for Us. MIT Press.<\/span><\/p>\n<p><span style=\"font-size: 12pt;\">Steven L Schwarcz, \u201cSystemic Risk\u201d [2008] The Georgetown Law Journal vol 97-193<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref1\" name=\"_ftn1\">[1]<\/a> Irish H-Y Chi and Joanna Wilson, <em>Banking Law and Regulation <\/em>(Oxford University Press 2019) 129-245<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref2\" name=\"_ftn2\">[2]<\/a> Andreas Kokkinis and Andea Miglionico, <em>Banking Law: Private Transactions and Regulatory Frameworks<\/em> (1<sup>st<\/sup> edition Routledge 2021) 9-15<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref3\" name=\"_ftn3\">[3]<\/a> BIS, \u201cAnnual Economic Report: Bank of International Settlements 2018\u201d [June 2018] 43-47https:\/\/www.bis.org\/publ\/arpdf\/ar2018e.pdf&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref4\" name=\"_ftn4\">[4]<\/a> Banking Act 2009, chs. 2 and 3<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref5\" name=\"_ftn5\">[5]<\/a> E. P. Ellinger, E. Lomnicka and C.V.M. Hare, <em>Ellinger\u2019s Modern Banking Law <\/em>(5<sup>th<\/sup> edition Oxford University Press 2011) 29-30<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref6\" name=\"_ftn6\">[6]<\/a> Ibid (n 2) 17-21<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref7\" name=\"_ftn7\">[7]<\/a> Ross Cranston, Emilios Avgouleas, Kristin van Zwieten, Christopher Hare, and Theodor van Sante, <em>The Principle of Banking Law<\/em> (3<sup>rd<\/sup> edition Oxford University Press 2017) 19-21<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref8\" name=\"_ftn8\">[8]<\/a> Randall D. Guynn, \u201cThe Global Financial Crisis and Proposed Regulatory Reform\u201d [2010] BYU L. REV. 421, 422-428<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref9\" name=\"_ftn9\">[9]<\/a> FSA, <em>The Turner Review: A regulatory response to the global banking crisis<\/em> [2009] 11-22<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref10\" name=\"_ftn10\">[10]<\/a> Christopher K. Odinet, \u201cThe Unfinished Business of Dodd-Frank Reforming the Mortgage Contract\u201d [2016] 69 S.M.U.L. REV.653, 680-684&lt; https:\/\/heinonline.org\/HOL\/Page?handle= hein.journals\/ smulr69&amp;collection=usjournals&amp;id=677&amp;startid=&amp;endid=722&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref11\" name=\"_ftn11\">[11]<\/a> Daniel Lamb, \u201cA Specter is Haunting the Financial Industry \u2013 The Specter of the Global Financial Crisis: A Comment on the Imminent Expansion of Consumer Financial Protection in the United States, the United Kingdom, and the European Union\u201d [2011], 31 J. NAT\u2019l ASS\u2019n ADMIN. L. JUDICIARY 213, 234-237<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref12\" name=\"_ftn12\">[12]<\/a> Ibid (n 11) 220-228<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref13\" name=\"_ftn13\">[13]<\/a> Ibid (n 8)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref14\" name=\"_ftn14\">[14]<\/a> Ibid (n 11) 246-250<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref15\" name=\"_ftn15\">[15]<\/a> Basel Committee on Banking Supervision, <em>Basel III: A global regulatory framework for more resilient banks and banking systems<\/em> [Bank for International Settlements 2010] 12-60<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref16\" name=\"_ftn16\">[16]<\/a> Ibid (n 7) 8-12<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref17\" name=\"_ftn17\">[17]<\/a> Ibid (n 1) 331-333; Jakob de Haan, Zhenghao Jin, and Chen Zhou, \u201cMicro-prudential regulation and banks systemic risk\u201d [2019] DeNetherlandscheBank, Working Paper No. 656, 6-11<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref18\" name=\"_ftn18\">[18]<\/a> Ibid (n 15) 6<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref19\" name=\"_ftn19\">[19]<\/a> Donald Kohn, <em>Institutions for Macroprudential Regulation: the UK and the US, Bank of England<\/em> (2014) 2-5<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref20\" name=\"_ftn20\">[20]<\/a> Jaque de Larosi\u00e8re, <em>Report, <\/em>\u201cThe Highest-Level Group on Financial Supervision in the EU\u201d [2009] 13-26&lt;7https:\/\/rl.talis.com\/3\/kcl\/lists\/14A33B2B-7C95-747F-F9D8-FA71547A91D8.html&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref21\" name=\"_ftn21\">[21]<\/a> ibid (n 15) 226-228<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref22\" name=\"_ftn22\">[22]<\/a> Financial Service Act 2012, art 2<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref23\" name=\"_ftn23\">[23]<\/a> Henrik Doshall and Byron Rom-Jensen, \u201cLetting Lehman GO: Critique, Social Change, and the Demise of Lehman Brothers\u201d [2017] Historical Social Research 42(3) 196-197&lt;https:\/\/doi.org\/10. 12759\/hsr.42.2017.3<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref24\" name=\"_ftn24\">[24]<\/a> Anthony Connerty, \u201cThe credit crunch: the collapse of Lehman Brothers \u2013 and a Hong Kong scheme to handle Lehman claims\u201d, [2010] Amicus Issue 83, 7<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref25\" name=\"_ftn25\">[25]<\/a> ibid (n 24)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref26\" name=\"_ftn26\">[26]<\/a> <em>Re Judgement in the Matter of Lehman Brothers International (Europe) (In Administration) and in the matter of the Insolvency Act 1986 <\/em>[2012] UKSC 6 [191] [194] [196]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref27\" name=\"_ftn27\">[27]<\/a> MiFID 2004\/39\/EU<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref28\" name=\"_ftn28\">[28]<\/a> Ibid (n 27)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref29\" name=\"_ftn29\">[29]<\/a> <em>Ibid (n 26)<\/em><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref30\" name=\"_ftn30\">[30]<\/a> Insolvency Act 1986, pt vii, arts 247-248<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref31\" name=\"_ftn31\">[31]<\/a> <em>Ibid (n 27)<\/em><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref32\" name=\"_ftn32\">[32]<\/a> Ibid (n 23)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref33\" name=\"_ftn33\">[33]<\/a> Ibid (n 8)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref34\" name=\"_ftn34\">[34]<\/a> John Amour, Dan Awrey, Paul Davies, Luga Enriques, Jeffrey N Gordon, Colin Mayer, and Jenifer Payne, <em>Principle of Financial Regulation <\/em>(Oxford University Press 2016) 416-418<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref35\" name=\"_ftn35\">[35]<\/a> Ibid (n 19)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref36\" name=\"_ftn36\">[36]<\/a> Ibid (n 4), c1(2), c 3A, 3B<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref37\" name=\"_ftn37\">[37]<\/a> Ibid (n 4) arts 1(2), 3(4), (5), (6); ibid (n 2) 86<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref38\" name=\"_ftn38\">[38]<\/a> ibid (n 4) s.246, pt.1, s.83ZA \u2013 83Z2<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref39\" name=\"_ftn39\">[39]<\/a> <em>Tournier v National Provincial and Union Bank of England, <\/em>[1924] 1 K.B. 461 (1923) 474<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref40\" name=\"_ftn40\">[40]<\/a> Data Protection Act 2018, art12 s 2<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref41\" name=\"_ftn41\">[41]<\/a> <em>Ba<\/em><em>rclays Banks P.L.C. v Kevin Taylor and Beryl Honora<\/em> <em>Taylor <\/em>[1989] WL 651113 [4] [9] [11]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref42\" name=\"_ftn42\">[42]<\/a> <em>Ibid <\/em>(n 41) 473<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref43\" name=\"_ftn43\">[43]<\/a> &nbsp;Practical Law Financial Institutions, <em>Bank\u2019s common law duties to customers overview<\/em> (2024) 3-6<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref44\" name=\"_ftn44\">[44]<\/a> Banking: Conduct of Business Sourcebook SCOBS, Release 36, May 2024, arts 2.1.1, 2.1.2<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref45\" name=\"_ftn45\">[45]<\/a> Practical Law Financial Institutions, <em>Bank account<\/em> (2024 Thomson Reuter) 2-5<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref46\" name=\"_ftn46\">[46]<\/a> Ibid (n 2) 3<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref47\" name=\"_ftn47\">[47]<\/a> <em>London Joint Stock Bank Limited v Macmillan and Arthur, <\/em><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref48\" name=\"_ftn48\"><em>[48]<\/em><\/a><em> Ibid<\/em> (n 47) 832<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref49\" name=\"_ftn49\">[49]<\/a> Ibid (n 47)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref50\" name=\"_ftn50\">[50]<\/a> <em>Barclays Banks P.L.C. v Kevin Taylor and Beryl Honora<\/em> <em>Taylor <\/em>[4] [9] [11]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref51\" name=\"_ftn51\">[51]<\/a> <em>Commonwealth Trading Bank of Australia v Smith <\/em>[1993] AC 2005, [214][215]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref52\" name=\"_ftn52\">[52]<\/a> <em>Ibid <\/em>(n 51)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref53\" name=\"_ftn53\">[53]<\/a> Ibid (n 2) 66-71<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref54\" name=\"_ftn54\">[54]<\/a> Financial Conduct Authority (FCA), <em>The FCA&#8217;s Conduct of Business Sourcebook (COBS),<\/em> COBS 4.2.1R<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref55\" name=\"_ftn55\">[55]<\/a> Ibid (n 54) COBS 2.2.1R<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref56\" name=\"_ftn56\">[56]<\/a> Ibid (n 54)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref57\" name=\"_ftn57\">[57]<\/a> Christine N. Booth, Undue Influence and Triangular Situation: The Husband, the Wife, and the Bank [1996] L.J., 26 HONG KONGS 58, 62-64&lt; https:\/\/heinonline.org\/HOL\/Page?handle=hein. journals\/honkon26&amp;collection=journals&amp;id=82&amp;startid=&amp;endid=104&gt;<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref58\" name=\"_ftn58\">[58]<\/a> Ibid (n 57)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref59\" name=\"_ftn59\">[59]<\/a> Ibid (n 54)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref60\" name=\"_ftn60\">[60]<\/a> Ibid (n 54), (n 57)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref61\" name=\"_ftn61\">[61]<\/a> Consumer Rights Act 2015, pt 2, arts 61, 62, 63<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref62\" name=\"_ftn62\">[62]<\/a> ibid (n 2) 91-93<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref63\" name=\"_ftn63\">[63]<\/a> Ibid (n 1) 29-70<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref64\" name=\"_ftn64\">[64]<\/a> <em>Ibid (n 51)<\/em><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref65\" name=\"_ftn65\">[65]<\/a> &nbsp;Andrew Mcknight, <em>The Law of International Finance <\/em>(Oxford University Press 2008) 97-100<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref66\" name=\"_ftn66\">[66]<\/a> Practical Law Finance,) <em>Securities lending, Practical Law UK Practice<\/em> Note 2-2021-9445 (2024 Thomson Reuter) 2-3<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref67\" name=\"_ftn67\">[67]<\/a> LMA, <em>Multicurrency Term and Revolving Facilities Agreement<\/em>, LMA.MTR.10, 28 February 2020<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref68\" name=\"_ftn68\">[68]<\/a> Practical Law Corporate, Due Diligence: Checklist (International) Practical Law UK Practice Note 7-107-3935 (2024 Thomson Reuter) 3-12<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref69\" name=\"_ftn69\">[69]<\/a> Ibid (n 67), (n 68)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref70\" name=\"_ftn70\">[70]<\/a> ibid (n 67) art 22.3<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref71\" name=\"_ftn71\">[71]<\/a> Ibid (n 68)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref72\" name=\"_ftn72\">[72]<\/a> Practical Law Corporate, <em>Financial Statements: Companies Act 2006 requirements<\/em> (2024 Thomson Reuter) 5-9<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref73\" name=\"_ftn73\">[73]<\/a> Ibid (n 67)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref74\" name=\"_ftn74\">[74]<\/a> ibid (n 65) 157, ibid (n 67) art 23<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref75\" name=\"_ftn75\">[75]<\/a> <em>Farold Holdings Ltd v Clydesdale Bank Plc<\/em> [2024] WL 01178040 [1]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref76\" name=\"_ftn76\">[76]<\/a> Ibid (n 67)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref77\" name=\"_ftn77\">[77]<\/a> Ibid (n 67) arts 19.1 and 19.11<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref78\" name=\"_ftn78\">[78]<\/a> Ibid (n 68)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref79\" name=\"_ftn79\">[79]<\/a> Ibid (n 67) art 23<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref80\" name=\"_ftn80\">[80]<\/a> Ibid (n 67) art 23.13<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref81\" name=\"_ftn81\">[81]<\/a> <em>Bank of Scotland v Alexander Morrison <\/em>[2024] WL 00780351 [30] [31]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref82\" name=\"_ftn82\">[82]<\/a> <em>Ibid (n 81)<\/em><\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref83\" name=\"_ftn83\">[83]<\/a> <em>Bank of Baroda and others v GVK and others, <\/em>WL 07165255 [50] [51]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref84\" name=\"_ftn84\">[84]<\/a> <em>Ibid (n 83) <\/em>[101] [162]<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref85\" name=\"_ftn85\">[85]<\/a> Ibid (n 68)<\/span><\/p>\n<p><span style=\"font-size: 12pt;\"><a href=\"#_ftnref86\" name=\"_ftn86\">[86]<\/a> Ibid (n 68)<\/span><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Risk, Regulation, and Lending: An Examination of Banking Regulation, Customer Relations, and Debt Finance Author:\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \u00a0\u00a0\u00a0\u00a0 Mr Xaypaseuth Phomsoupha, PhD, Solicitor-at-Law Editing Note: \u00a0\u00a0\u00a0 This abridged article, derived from the original manuscript submitted in 2024 to The University of Law, London, is intended to serve as a reference for postgraduate students specialising in commercial and&hellip;&nbsp;<a href=\"https:\/\/phomsouphalaw.com\/?p=4617\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Risk, Regulation, and Lending: An Examination of Banking Regulation, Customer Relations, and Debt Finance<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":4444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"off","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","footnotes":""},"categories":[15,14,11],"tags":[],"table_tags":[],"class_list":["post-4617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dr-xaypaseuth-phomsoupha","category-new-articles","category-news-law"],"_links":{"self":[{"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/posts\/4617","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4617"}],"version-history":[{"count":4,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/posts\/4617\/revisions"}],"predecessor-version":[{"id":4621,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/posts\/4617\/revisions\/4621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=\/wp\/v2\/media\/4444"}],"wp:attachment":[{"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4617"},{"taxonomy":"table_tags","embeddable":true,"href":"https:\/\/phomsouphalaw.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftable_tags&post=4617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}