Member Info for mt11

new total for Odey is 3.29%
and overall total is 5.2%

that's +0.01 %
they crossed this on 05/01/2021

They reached the threshold on 04/01/2021
I suspect they did more later on in the week as well, suppose we will find out in time
¯\_(?)_/¯

This RNS has a entry showing open Securities Lending at 2.20%

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to 3.34 ( -0.14 ) so the new total is 5.25%

Those 2 RNS look interesting side by side

Then dropped down to 4.59% on 23/12

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nice. what's your average? what price are you looking for?

just hold forever and it'll course correct or get acquired lol

I don’t remember seeing this discussed here

https://www.altfi.com/article/7387_ratesetter-offloads-167m-property-development-loan-portfolio-to-shawbook-bank

or any mention from Metro on this situation.

What gives?

Nice end to the week, looking forward to market open.

The £83m premium was like 80% of Metro’s market cap back when Dan invested last, great timing. LOL!

https://www.bankofengland.co.uk/news/2020/december/boe-statement-on-mrel-and-resolvability-deadlines

Theosus
Don't know about that, like most things it will all come out in the wash. Even beyond Metro I would like to see a new MREL framework which is fairer to smaller banks, to keep competition alive, if nothing else.

Theosus
See slide 18 on https://www.metrobankonline.co.uk/globalassets/documents/investor_documents/metro-bank-h1-2020-results-presentation.pdf under the title "MREL issuance considerations"

Theosus

MREL hasn’t. See Metro Banks Q3 2020 Trading Update where they said they’d need to raise more funds in 2021 if the review isn’t favourable.

“...is now below the firm's MREL requirements plus buffers, pending the outcome of the Bank of England MREL framework review (expected by the end of 2020).”

That’s what they said, so expect guidance on this lol

It would be a crazy move if BoE does nothing and causes Metro to raise more funds in this environment. As Metro said the review will happen by end of year, I’d expect guidance either way.