Category Archives: Deliverables

New report: introducing a time delay on access to credit

Jodi Gardner, Lindsey Appleyard, and Karen Rowlingson have written a new report on the potential effects of introducing a time delay on access to credit, particularly payday lending.

This report was produced for the Archbishop’s Task Group on Responsible Lending and Savings, and can be found HERE.

Response to the Financial Conduct Authority (FCA) Consultation on Payday Lending

Karen Rowlingson, Lindsey Appleyard and Jodi Gardner have written a response to this consultation, which can be found here:

Impact of capping the cost of payday lending in the UK – report for the FCA

Karen Rowlingson, Lindsey Appleyard and Jodi Gardner have written a report for the Financial Conduct Authority on the potential impact of capping the cost of payday lending in the UK.

A copy of the report can be found here:


Two new papers on regulatory lessons from Australia

The following papers have been written by Jodi Gardner and Karen Rowlingson as part of the Responsible Lending and Borrowing workstream.

The first, by Jodi, is entitled ‘The Challenges of Regulating High-Cost, Short-Term Credit: A Comparison of UK and Australian Approaches’

The second, by Jodi and Karen, is entitled: ‘Towards a ‘cost of credit’ cap in the UK: Lessons from Australia’.

Download (PDF, 468KB)

Download (PDF, 366KB)

Banking for the Public Good

The accepted version of Andy Mullineux’s paper ‘Banking for the Public Good’ can be found here.

2nd Philosophers’ Workshop – Report

2nd FinCris Philosophers’ Workshop

22nd / 23rd June 2013, Scarman House, University of Warwick


Tom Sorell, James Dempsey, Peter French (by Skype), David Silver, Nick  O’Donovan, Lena Rethel, Chris Cowton, Seumas Miller, Mark Hannam, Tim Fowler, Sajid Chaudhry, Antony Elliot, John Guelke, Leslie Sherratt.


This workshop followed on from the 1st workshop that we ran in November 2012. The aims were very similar – to discuss how theoretical accounts of responsibility can be applied to the financial crisis, and to do so in light of the progress made in November. In particular, to continue the themes developed Read more »

New Paper by Andy Mullineux – Banking for the Public Good

Follow this link for the latest draft of a new paper written by Andy Mullineux on ‘Banking for the Public Good’.


Bank shareholders cannot be expected to provide good stewardship to banks because there is a conflict of interests between the shareholder owners and a non-mutually owned bank’s depositors; who provide the bulk of the funds in traditional retail banks and are willing to accept a lower return on their savings than shareholders, in return for lower risk exposure.  Regulation is required to Read more »

Taxing Banks – An Ethical Perspective

In this post James Dempsey and Tom Sorell, who are working on the ethics stream of the FinCris project, comment on some of the themes that have emerged from the work of the taxation stream of the project, led by Andy Mullineux.

  1. Taxation and the Financial Crisis

The financial crisis has raised serious concerns about the current organisation and operation of the banking sector in the UK. The tax regime that is imposed upon banks and other financial institutions is one place to look for failures that precipitated or exacerbated the crisis, and for tools to improve the functioning of the financial sector in the future. Read more »

Taxing Banks Fairly Workshop, 27th March 2013 – Report

Invited Speakers:
Peacock, Adam – Associate, Corporate Tax Department, Baker & Mckenzie
Young, Ian – Tax Policy Manager, Institute of Chartered Accountants in England and Wales
Kerrigan, Arthur – Head of Sector, VAT International Financial European Commission
Keen, Michael – Deputy Director, Fiscal Affairs Department, International Monetary Fund Read more »

Narratives of the Crisis – Securitisation and Its Role in the Crisis

This is the first of a series of posts discussing aspects of narrative accounts of the financial crisis. For an introduction to these posts see ‘Narratives of the Crisis – Introduction’.

A Brief Overview of Securitisation

The traditional role of banks is to act as intermediaries between savers and borrowers. By taking deposits from savers and making loans to borrowers, banks provide a number of services. They perform a liquidity transformation by taking in short term deposits and providing long term loans; they distribute the risks associated with defaults across many savers; and they minimise the costs of assessing these risks by putting in place repeatable and robust processes for determining the likelihood that any particular borrower will default. While this intermediation has traditionally been performed by banks, it can be performed in other ways, one of which is through the process of ‘securitisation’. Read more »