We don't know whether the most recent response to this request contains information or not – if you are Gary please sign in and let everyone know.

Clarifications on Loan Agreements

We're waiting for Gary to read recent responses and update the status.

Dear Bank of England,
1. Is it true that a BGC once endorsed is a valid negotiable instrument and therefore valid payment method to discharge an alleged debt?
2. When an 'agreement’ is accepted by a borrower and it is accepted by a bank, does that create a trust?
3. If a trust has been created by an autograph/agreement to contract, what are the roles (fiduciary duties) of the ‘the bank’ and the borrower within this trust? i.e. Trustee/Settlor/Beneficiary
4. In transactions, is it not the case that the bank is acting in the capacity of a “Trustee”?
5. Does the bank hold legal title? If not, who does?
6. Who holds "Equitable" title?
7. Is an agreement when signed or agreed to by a borrower, a financial instrument?
8. Can a financial instrument be securitized?
9. What creates the "source" of the funds the bank claims it lends?
10. When the bank accepts a contract/agreement, does the bank monetise this instrument, creating a credit on account which it then uses to fund the credit/loan to the applicant?

Yours faithfully,

Gary

Enquiries, Bank of England

Dear Gary

We acknowledge receipt of your email dated 9 September below (our ref: CAS-50756-Q2B8Z1).

We will reply in due course.

Yours sincerely

Information Access Team
Bank of England

Threadneedle Street, London EC2R 8AH
+44 20 3461 4878

show quoted sections

Enquiries, Bank of England

1 Attachment

Dear Gary

Please find attached response to your email dated 9 September below.

Yours sincerely

Information Access Team
Bank of England

Threadneedle Street, London EC2R 8AH
+44 20 3461 4878

show quoted sections

We don't know whether the most recent response to this request contains information or not – if you are Gary please sign in and let everyone know.