Bank of England announces latest details of landlord crackdown September 29, 2016 The Bank of England's crackdown on landlords kicked up a notch this morning, with a set of tough new lending restrictions for buy to let mortgages. Threadneedle Street's banking supervision arm, the Prudential Regulation Authority (PRA), has long been concerned with the risks the UK's buy-to-let sector poses to financial stability and has again tightened [...]
Commerzbank announces nearly 10,000 jobs up for the chop September 29, 2016 German lender Commerzbank has today announced it will be slashing just shy of 10,000 jobs, while also halting dividend payouts to cover the cost of the latest stages of its business overhaul. Around 9,600 full-time jobs will be shed from the bank over the course of the next four years, as it starts to close down [...]
The great Deutsche Bank sale begins as bailout rumours continue to swirl September 28, 2016 Deutsche Bank sold one of its less core businesses today, prompting speculation that more asset sales are on the cards at the troubled German lender as it faces the prospect of a multi-billion pound US fine. The bank agreed to sell British insurance business Abbey Life to Phoenix, which will bring in nearly £1bn in capital. [...]
Now Credit Suisse chief Tidjane Thiam sounds alarm on European banks September 28, 2016 Credit Suisse boss Tidjane Thiam has today become the latest in a list of names to warn Europe's banks are not in a healthy state. His comments come as Deutsche Bank's share price is swinging widely as rumours circulate as to whether the German government would be prepared to bail out the lender. The German giant, which [...]
As you might imagine, there isn’t one just reason why Deutsche Bank is in trouble – here are the key issues it faces September 28, 2016 Anyone that has picked up a newspaper recently will know that Deutsche Bank isn’t having a great time of things at moment. Its share price has tanked, there are talks of the German government intervening, parallels to Lehman Brothers and concerns that a whole new financial crisis could be sparked if Germany’s largest bank goes [...]
Deutsche Bank: Where did it all go wrong? September 28, 2016 The German government could be considering a bailout for Deutsche Bank as the lender's share price falls to its lowest level since the mid-1980s and speculation over a rights issue or buyout swirl. The latest trigger has been the Department of Justice's claims for a $14bn settlement over Deutsche Bank's role in the underwriting of [...]
RBS admits no fault but settles with US regulator over selling of toxic products September 28, 2016 The Royal Bank of Scotland (RBS) has agreed to pay $1.1bn (£845m) of penalties to US authorities in order to settle claims that it mis-sold mortgage-backed securities to corporate credit unions. The US National Credit Union Administration (NCUA) announced the settlement overnight but stressed that under the arrangement the embattled British lender did not admit [...]
Shareholders regain confidence as suggestions emerge Deutsche Bank might be too big to fail after all September 27, 2016 Deutsche Bank shares finished flat today after an initial three per cent dip, as murmurs surfaced that the German giant might be too big to fail after all. Shares in the lender plunged 7.5 per cent to €10.55 yesterday, after reports over the weekend suggested German Chancellor Angela Merkel would not be prepared to offer state assistance, even [...]
As a beleaguered Deutsche Bank faces a $14bn fine, Angela Merkel has ruled out state aid, but could a bailout be on the cards? September 27, 2016 Recent discussion of possible European bank bailouts has focused on Italy. Saddled with €360bn of souring loans and enfeebled by a stagnant, over-regulated economy, a number of Italian lenders face a very real risk of insolvency. In July, the country’s third largest, Monte dei Paschi di Siena, failed a stress test set by the European Central [...]
Doom and gloom for European banks as Deutsche drags down sector September 26, 2016 Deutsche Bank cast an ominous shadow over the banking sector today, after fresh doubts over the German giant's capital position emerged, prompting investors to take flight across the sector. Investors panicked that government patience for bailouts had run dry and Deutsche Bank's share price closed down 7.5 per cent at €10.55, its lowest level since [...]