Lease Accounting changes: small lessees are allowed much more time

The past week has brought mixed news on the outlook for the planned new global lease accounting standard. Most importantly: • It now seems clear that the standard, requiring wholesale capitalization of leased assets on the lessee's balance sheet, will at last be finalized this year, although probably not for at least six months yet; and • the possibility of a major exception for small ticket leases has now disappeared; but • in many jurisdictions, the SMEs who comprise the great majority of lessees may not have to apply any of the new rules for almost seven years yet; and • the rules for applying capitalization to leases already running at the future adoption dates of the new rules will be easier than proposed earlier.

 
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Lease Accounting changes: small lessees are allowed much more time

Feb 26, 2015

The past week has brought mixed news on the outlook for the planned new global lease accounting standard. Most importantly: • It now seems clear that the standard, requiring wholesale capitalization of leased assets on the lessee's balance sheet, will at last be finalized this year, although probably not for at least six months yet; and • the possibility of a major exception for small ticket leases has now disappeared; but • in many jurisdictions, the SMEs who comprise the great majority of lessees may not have to apply any of the new rules for almost seven years yet; and • the rules for applying capitalization to leases already running at the future adoption dates of the new rules will be easier than proposed earlier.


Finance & Leasing Association’s guest speaker praises the "Good Guys"

The role of UK asset financiers and lessors was lauded at yesterday’s Finance & Leasing Association’s (FLA) annual dinner. Guest speaker Robert Peston, BBC News economic editor, stressed: “I feel passionately that you lot are the good guys, and what you do is absolutely vital for our economy.”

 
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Finance & Leasing Association’s guest speaker praises the "Good Guys"

Feb 25, 2015

The role of UK asset financiers and lessors was lauded at yesterday’s Finance & Leasing Association’s (FLA) annual dinner. Guest speaker Robert Peston, BBC News economic editor, stressed: “I feel passionately that you lot are the good guys, and what you do is absolutely vital for our economy.”

UK asset finance returns to pre-recession levels – but will the momentum last?

The continuing recovery in the UK economy has been reflected in the growth of asset finance, with businesses keen to use leasing and hire purchase to invest in a wide range of assets, with particularly strong growth in new finance for production plant, agricultural equipment and construction equipment. According to data from the Finance & Leasing Association (FLA), new business volume growth in 2014 was up 13% year-on-year on 2013, the strongest annual rate of growth since the onset of the financial crisis.

 
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UK asset finance returns to pre-recession levels – but will the momentum last?

Feb 23, 2015

The continuing recovery in the UK economy has been reflected in the growth of asset finance, with businesses keen to use leasing and hire purchase to invest in a wide range of assets, with particularly strong growth in new finance for production plant, agricultural equipment and construction equipment. According to data from the Finance & Leasing Association (FLA), new business volume growth in 2014 was up 13% year-on-year on 2013, the strongest annual rate of growth since the onset of the financial crisis.

Huntington set to acquire Macquarie Equipment Finance in the US

Huntington Bancshares has signed a definitive agreement for Huntington National Bank to purchase Michigan-based Macquarie Equipment Finance (MEF-US). With approximately $500 million of annual originations, MEF-US is the largest standalone, vendor independent provider of specialized technology financing with customer-centric asset management services in the US.

 
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Huntington set to acquire Macquarie Equipment Finance in the US

Feb 24, 2015

Huntington Bancshares has signed a definitive agreement for Huntington National Bank to purchase Michigan-based Macquarie Equipment Finance (MEF-US). With approximately $500 million of annual originations, MEF-US is the largest standalone, vendor independent provider of specialized technology financing with customer-centric asset management services in the US.

The forgotten women car buyers

According to startling new research by International Auto Finance Network and the University of Buckingham Business School, the automotive industry continues to display ongoing disregard for the requirements of women car buyers. Despite the fact that women represent around 50% of the car-buying public the vast majority of leasing/retail auto lending respondents have made absolutely no provision or consideration for their specific needs or preferences.

 
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The forgotten women car buyers

Feb 23, 2015

According to startling new research by International Auto Finance Network and the University of Buckingham Business School, the automotive industry continues to display ongoing disregard for the requirements of women car buyers. Despite the fact that women represent around 50% of the car-buying public the vast majority of leasing/retail auto lending respondents have made absolutely no provision or consideration for their specific needs or preferences.

Fleet Hire selects Leaselink and MoDel from Ebbon-Dacs

Full service contract hire, fleet management and salary sacrifice provider, Fleet Hire, has selected the Leaselink e-procurement platform from UK-based online solutions specialist, Ebbon-Dacs, to automate all its new vehicle ordering, improve efficiency and reduce administration. Fleet Hire, which operates a fleet of around 6,500 vehicles, and is currently ranked 24 in the Fleet News FN50 list of top fleet lessors, selected Leaselink, after carrying out a thorough evaluation of competitive products in the fleet market.

 
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Fleet Hire selects Leaselink and MoDel from Ebbon-Dacs

Feb 24, 2015

Full service contract hire, fleet management and salary sacrifice provider, Fleet Hire, has selected the Leaselink e-procurement platform from UK-based online solutions specialist, Ebbon-Dacs, to automate all its new vehicle ordering, improve efficiency and reduce administration. Fleet Hire, which operates a fleet of around 6,500 vehicles, and is currently ranked 24 in the Fleet News FN50 list of top fleet lessors, selected Leaselink, after carrying out a thorough evaluation of competitive products in the fleet market.

Norton Folgate acquired by Amicus

Amicus Finance Plc (Amicus), a leading specialist in short term lending solutions, has acquired London City-based brokerage Norton Folgate Capital Group including Norton Folgate Capital Consulting LLP for an undisclosed sum.  

 
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Norton Folgate acquired by Amicus

Feb 24, 2015

Amicus Finance Plc (Amicus), a leading specialist in short term lending solutions, has acquired London City-based brokerage Norton Folgate Capital Group including Norton Folgate Capital Consulting LLP for an undisclosed sum.  

Syscap acquired by Wesleyan Group on 25th birthday

Syscap has been acquired by mutual financial services specialist Wesleyan. This acquisition aims to build on Wesleyan’s expansion plans by bringing Syscap’s expertise in IT leasing and asset finance into the insurance company’s portfolio of financial products.

 
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Syscap acquired by Wesleyan Group on 25th birthday

Feb 23, 2015

Syscap has been acquired by mutual financial services specialist Wesleyan. This acquisition aims to build on Wesleyan’s expansion plans by bringing Syscap’s expertise in IT leasing and asset finance into the insurance company’s portfolio of financial products.

Squeeze on margins remains troublesome for European lessors as growth continues to be driven by price

Leaseurope and Invigors EMEA’s recent leasing European Business Confidence Survey, conducted in December 2014, highlights a generally optimistic view of the business outlook for H1 2015, though with indications of possible concerns in some areas - not least maintaining margins.. Despite the political uncertainty on the European periphery, the outlook for the European economy remains generally positive and this is reflected in the findings of the latest research amongst European leasing professionals.

 
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Squeeze on margins remains troublesome for European lessors as growth continues to be driven by price

Feb 23, 2015

Leaseurope and Invigors EMEA’s recent leasing European Business Confidence Survey, conducted in December 2014, highlights a generally optimistic view of the business outlook for H1 2015, though with indications of possible concerns in some areas - not least maintaining margins.. Despite the political uncertainty on the European periphery, the outlook for the European economy remains generally positive and this is reflected in the findings of the latest research amongst European leasing professionals.

iVendi’s James Tew argues the case for motor dealers adopting APR-based finance products

The new customer-centric approach taken by UK motor dealers when selling point-of-sale finance has been forecast to lead to reduced profitability for car sales. Recently the retail car sales sector has recently experienced radical changes to the way in which dealers are incentivised and rewarded.

 
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iVendi’s James Tew argues the case for motor dealers adopting APR-based finance products

Feb 18, 2015

The new customer-centric approach taken by UK motor dealers when selling point-of-sale finance has been forecast to lead to reduced profitability for car sales. Recently the retail car sales sector has recently experienced radical changes to the way in which dealers are incentivised and rewarded.

 
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