Interest rates: Higher borrowing costs to dent mortgage lending further, banks report October 12, 2023 The rate of defaults is expected to increase as customers struggle under the weight of higher borrowing costs.
Jes Staley fined £1.8m over ‘reckless’ misleading statements on relationship with Jeffrey Epstein October 12, 2023 "The FCA has found that Mr Staley recklessly approved a letter sent by Barclays to the FCA, which contained two misleading statements about the nature of his relationship with Jeffrey Epstein", the FCA said.
Metro Bank founder: I told them branches wouldn’t work 10 years ago October 12, 2023 The founder of Metro Bank claims he warned the struggling lender against its sprawling network of branches some ten years ago - but the board failed to listen.
Metro Bank bondholders back refinancing plans despite significant haircut October 11, 2023 Metro Bank has secured approval from its bondholders to go ahead with major refinancing plans.
Why mortgage rates are still heading down despite rising bond yields October 11, 2023 Mortgage rates have continued falling in the UK even as yields on government bonds have increased.
We can’t compete: Banks complain Government savings scheme is too generous October 11, 2023 Banks in the UK are concerned that the savings rates on offer in National Savings & Investment (NS&I) are distorting the savings market.
Banks to face new stress tests as Bank of England remains on the prowl for financial stability risks October 10, 2023 Regulators at the Bank of England are looking to make certain that the UK financial sector remains resilient to shocks that may arise from the rapid rise in interest rates.
IMF calls for ‘intrusive’ supervision to prevent financial stability risks from ‘sizeable tail of weak banks’ October 10, 2023 The International Monetary Fund (IMF) warned that the global banking system remains at risk from the impact of rising rates six months on from Silicon Valley Bank's (SVB) collapse.
Banks bullish on Arm one month on from Nasdaq float October 9, 2023 Shares in Arm jumped in early trading today after a number of major US banks issued a 'buy' rating for the stock just one month after the British chip designer floated on Nasdaq.
Clydesdale Bank loan misselling case begins in High Court as claimants seek £400m October 9, 2023 A £400m High Court case against Clydesdale Bank kicked off today with claimants alleging that business account customers paid hundreds of millions of pounds in unnecessary interest.