BoE calls on lenders to seek regulatory approval before relocating to EU March 29, 2021 The Bank of England is calling on lenders to seek its approval before relocating to the EU after concerns European regulators are demanding more to move than necessary. The central bank is concerned the European Central Bank’s requests are excessive, the Financial Times reported, and Governor Andrew Bailey has reportedly taken a personal interest in [...]
Frugal February: Brits paid off £1.2bn in credit card debt and overdrafts in final month of full lockdown March 29, 2021 Frugal February: Brits paid off £1.2bn in credit card debt and overdrafts in final month of full lockdown
Banks warn of ‘significant’ losses after huge fire sale linked to Archegos March 29, 2021 A huge fire sale of individual stocks last week has seen Credit Suisse and Nomura shares plummet after warning of “significant” losses. On Friday shares in ViacomCBS and Discovery plunged 27 per cent alongside leading Chinese stocks, including Tencent and Alibaba. Over the weekend it was revealed there was a massive margin call on family [...]
BoE demands lenders seek its approval before relocating jobs to the EU March 29, 2021 The Bank of England is demanding that lenders seek its approval before relocating UK jobs or operations to the EU. The move comes after the BoE became concerned that European regulators are asking for more to move than is necessary for financial stability post-Brexit, the Financial Times first reported. The BoE reportedly heard of several [...]
Covid: UK bank lending surged £29.3bn since March, surpassing EU March 29, 2021 UK bank lending has surged by eight per cent to keep businesses afloat since the pandemic began, surpassing EU lending, according to a new study by UHY released this morning. Banks have offered around £29.3bn in businesses loans over the past year, as lending in the EU increased by an average of 5.3 per cent. [...]
BoE urges banks to keep lending as government schemes come to an end March 26, 2021 The Bank of England has urged banks to continue lending through the recovery as the government starts to wind down its coronavirus loan schemes. While the vaccine rollout has boosted confidence the Financial Policy Committee (FPC), which looks at the risks facing the system, has warned SMEs will need to finance cash-flow deficits this year [...]
Deutsche Bank chief Sewing prepared to give up investment bank role March 26, 2021 Deutsche Bank CEO Christian Sewing could give up his role overseeing the investment bank in a move likely to reassure regulators, a source said on Friday. The anonymous source said Sewing never intended to permanently keep the role since he added to his duties in a management overhaul in 2019. German business newspaper Handelsblatt reported [...]
Criminal case against NatWest tip of £90bn iceberg in ‘money laundering capital of the world’ March 26, 2021 Yesterday it was reported that the recent money laundering charges against NatWest are linked to a separate case against 13 individuals based in cities around the UK. The latest revelations followed the shock announcement, last week, that the Financial Conduct Authority had lodged criminal proceedings against NatWest for money laundering offences. The watchdog – accusing NatWest of [...]
Santander closing 111 bank branches across the UK, with 840 roles affected March 25, 2021 Santander closing 111 bank branches across the UK, with 840 roles affected
Former PM David Cameron will be investigated over lobbying Sunak and Bank for Covid cash for Greensill March 25, 2021 David Cameron will be investigated over lobbying Sunak and Bank for Covid cash for Greensill