Downgrades of Social Housing Providers Due to Growing Market Exposures on Swaps & Derivatives

Joel M Benjamin made this Freedom of Information request to Homes England

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was partially successful.

Dear Homes and Communities Agency,

I am interested in obtaining information on Social Housing providers market risk exposure on derivatives and swaps, especially given these bodies have recently been reclassified as 'public' bodies by the ONS.

In particular I would like to know:

1) The numbers of HCA social housing provider downgrades for each financial/calendar (however the data is collected and reported by the HCA) year since 2009/10

2) Where available - a breakdown of the reasons for the downgrades for each financial/calendar year since 2009/10 - especially the numbers of HAs downgraded for insufficient collateral cover and growing market risk on swaps & derivatives.

3) The number of In-Depth-Assessments (IDAs) conducted by the HCA each year 2009/10 - 2016/17, and the issues found (with particular focus on interest rate swaps and derivatives exposures and collateral shortfalls).

4) The results of "stress-testing" undertaken by Housing Associations suffering downgrades in 2015/16 and 2016/17 financial years.

5) Additionally, please provide copies of ISDA agreements held by the HCA detailing the interest rate swaps and derivatives arrangements for social housing providers.

Yours faithfully,

Joel M Benjamin

Naomi McMaster,

1 Attachment

Dear Mr Benjamin

 

Attached is acknowledgment of your request for information.  

 

Kind Regards,

Naomi

 

Naomi McMaster

Information and Complaints Officer

Homes and Communities Agency

Fry Building

2 Marsham Street

London

SW1P 4DF

020 78748288 ext.5288

Switchboard: 0300 1234 500

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Margaret Connolly,

3 Attachments

Dear Mr Benjamin

Attached is a response to your request for information.

Kind regards

Mags
______________________________________
Margaret Connolly
Legal Services
Telephone No: 0207 874 8283
Ext 5283
______________________________

[email address]

Please forward any Freedom Of Information Act or Environmental Information Regulation requests to: [Homes and Communities Agency request email]

Homes and Communities Agency
The Fry Building
2 Marsham Street
London
SW1P 4DF

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