UK banks best placed for new capital buffers November 10, 2014 Investors will bear more losses more quickly when a big bank gets into trouble, under new rules laid out by global regulators the Financial Stability Board (FSB) yesterday. All global systemically important banks (GSIBs) will be affected as they will issue more capital to build up the buffers of total loss absorbing capacity (TLAC). Analysts [...]
Forex market rigging probe: Global regulators close in on £1.5bn bank foreign exchange settlement November 10, 2014 A clutch of banks are this week prepared to settle claims their traders tried to fiddle foreign exchange benchmarks, but final disagreements between global regulators are set to push the case back a week. UK, US and Swiss authorities had aimed to bring out an agreement tomorrow. However bringing so many authorities and banks into [...]
Challenger bank Aldermore says IPO will still happen as lending lifts November 10, 2014 Challenger bank Aldermore, which pulled the plug on a planned London Stock Exchange listing last month, has posted promising third quarter results. Aldermore's total lending rose by 10 per cent in the third quarter, taking it to a 30 per cent increase since the beginning of 2014. This helped lift third quarter pre-tax profit [...]
Challenger bank Aldermore posts third quarter results: Sees lending, profit increase November 10, 2014 Challenger bank Aldermore, who pulled the plug on a planned London Stock Exchange listing last month, has posted promising third quarter results. Aldermore's total lending rose by 10 percent in the third quarter, taking it to a 30 percent increase since the beginning of 2014. This helped lift third quarter pretax profit to almost [...]
Banks argue over the future of free in credit current accounts November 9, 2014 Britain’s banks are split over the future of free bank accounts, with lenders arguing for and against the traditional accounts in submissions to the Competition and Markets Authority (CMA). Barclays told the CMA, which last week launched a major probe into competition in the market, that free accounts impeded competition. “As standard current accounts in [...]
UBS to settle over precious metals misconduct allegations as part of forex market rigging probe November 9, 2014 UBS are expected to strike a settlement with financial regulators over allegations of misconduct at its precious metals trading business. The settlement will form a part of a £1.5bn agreement the Swiss lender is due to make with five other banks to settle allegations of forex market rigging. According to a report in [...]
Qatar makes £1.6bn bid for Canary Wharf owner Songbird November 6, 2014 Qatar wants to buy up Canary Wharf in a £1.6bn deal, showing the oil rich state’s determined interest in snapping up vast chunks of valuable and iconic London property. The deal would be one of the biggest property sales ever in the UK, and will extend Qatar’s reach over London landmarks, which already includes the [...]
Big banks hurt by competition investigation November 6, 2014 INVESTORS fled the big banks’ shares yesterday as a major new investigation threatened to break them up or impose significant new costs. But small lenders cheered the probe as a chance to end the dominance of the giant high street banks. The Competition and Markets Authority (CMA) is investigating the personal current account and the [...]
Fire and ice mix at the launch of Canary Wharf’s skating rink November 6, 2014 It's not winter until there’s an ice skating rink popping up next to your office, and last night was the turn for Canary Wharfers, as its rink launched – and in a blaze of glory at that. The party, attended by Barclays and Citibank among others, saw the Guinness World Record for most [...]
City Moves for 07 November 2014 | Who’s switching jobs November 6, 2014 Lloyds Bank Commercial Banking Oliver Knight has been appointed head of the bank’s group and public sector team and head of regulatory response. He joins from Accenture, where his experience included four years working in its financial services strategy practice. Deutsche Bank Elizabeth Nolan has been appointed head of custody and clearing at the bank. [...]