Member Info for mt11

CEO also said he doesn't mind if they let it run either.

E_AL - I'm talking about AIRB feedback. Not feedback on the new funding deal.

Dan reckons discount to par for the mortgage book. Sounds like a 3% discount is what they will accept. They will get close to £3bn back in cash which if they were conservative would return tens of millions a year in interest.

Metro Bank have not even received written feedback from the Bank of England. Just verbal feedback. They need the written feedback before they can update the models. Dan's now saying it's a cleanup job. Maybe 2024/25 if they keep pushing, they might abandon the AIRB program and reposition the balance sheet depending on what happens to the model. Basically he has no effing idea.

Dan said under 5% discount on the mortgage book sale. They won't get AIRB in the near-term. The mortgage book assets are better on a bank with AIRB's book. He's open to even selling furniture if it's profitable. Maybe Shawbrook will take them up on that. Metro won't go into the buffers, Dan seems traumatised.

The headline is Metro Bank now has the Capital for growth. If they can push the growth narrative then this rockets.

Sounds very robotic. Not really selling it.

We live in hope :)

Not necessarily. The share price has always been undervalued due to concerns around funding. Now that's sorted, albeit with the bank paying eye watering interest the value might start moving towards it's actual value. Plus Metro is soon to have half it's market cap in working funds just from Spaldy. Then more from the £3bn asset sale on the balance sheet which also reduces £1bn in RWA. It's a tough one to price.

Let's see what the investor call brings. They will face questions from their peers, some of which have axes to grind. All going well then we might start seeing the numpties providing their broker ratings.

It'll get nodded through because the alternative is the risk of total wipeout. The media will pounce to drive a few more clicks. The BoE/PRA will be watching so they can say we didn't get a bank failure on our watch and we stepped in long before and then all get knighted and sponge off that status.

You deserve it bud. You held your nerve. So fair play to that but this went to the wire. It’s still not over for a few weeks. The BoE/PRA are watching and those incompetent fools want blood.

They are going to waive your right to participate in that round. We don’t get access to the sweet rate.

How lucky we’ve been is not lost on me either. At one point yesterday Metro Bank was worth £0. Maybe the tin-hatters are onto something about the market being rigged… lol

It’s simpler than that. Metro approached investors about a potential raise apparently and they used that to short this and flood the news with rumours.

Don’t get me wrong, I hope the rest of them duplicitous clowns get it as well. This has all been BS.

Could you imagine is Spaldy’s the one who lent his shares to the shorters and is more recalling them hahaha

It’s a term they love in finance

All I want to see in the short term is the institutional shorters burn to ash.

Yup. He is buying shares for 50% less than the closing price on Friday. Bet Monday’s offer was better than this when share price was like 60p. Board needs to go but that creates instability.

Are going to have a hard time closing. Existing shareholders are underwater and have hope for the future, so they might not want to sell.

This means shorters either push to close, pushing up the price, or hold and pay to keep the position open.