Bank fears debt too high to cope with a rate hike December 3, 2013 HIGH house prices are pushing up families’ debts and mean they could be in danger when interest rates rise, the Bank of England said yesterday. The minutes of its financial policy committee’s (FPC) latest meeting show the panel of policymakers is worried that further sharp rises in prices will build up risks in banks and [...]
Europe’s banks told they have €280bn hole December 2, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
Europe’s banks told they have €280bn hole November 28, 2013 EUROPE’S banks have a capital hole of €280bn (£233bn) and will have to issue €180bn in new equity to plug the gap, analysts at PwC estimated yesterday. The tide of new rules and clarifications around capital requirements, leverage rules and risk weightings is expected to push the requirements to the top of lenders’ agendas. And [...]
It’s open season on banks again November 26, 2013 BANKERS faced a series of fresh attacks yesterday, as Labour pushed for tougher licences for bankers and the chancellor opened the door to harsher lending controls. Labour won a vote in the House of Lords last night to force bankers to face regular checkups from regulators, and risk losing their licence if they do not [...]
Rise in remortgaging continues into autumn as market heats up November 24, 2013 REMORTGAGING is becoming increasingly popular as the housing market begins to heat up again, with lending figures still climbing. Figures released by LMS today show remortgage lending increased by 27.7 per cent during the year to October. Both the number of loans issued and the average loan amount have risen over the same period, up [...]
Lessons of the crisis loom large for challenger November 21, 2013 Metro Bank’s Craig Donaldson is determined not to make the same mistakes as the big banks METRO Bank has made a splash since it was granted a banking licence just over three years ago. When it launched in 2010 the new lender was the first to the high street in more than 100 years – [...]
Fastest lift in mortgage lending for five years November 20, 2013 MORTGAGE lending soared to £17.6bn last month as the UK’s housing market continued to heat up, marking the steepest annual jump since 2008. The Council of Mortgage Lenders (CML) revealed yesterday that gross lending was up nine per cent from September, and an eye-watering 37 per cent higher than in October 2012. The last time it recorded [...]
UK mortgage lending hits five year high November 20, 2013 Gross mortgage lending in October has risen to £17.6bn according to Council of Mortgage Lenders (CML) data. This represents an increase of 36.6 per cent year-on-year and nine per cent month-on-month and was the highest monthly gross mortgage lending seen since October 2008. The housing market is being supported by improving consumer confidence, increasing employment [...]
$13bn fine for JP Morgan over mortgage sales November 19, 2013 JP MORGAN last night confirmed it would pay the biggest ever fine levied on a firm, as part of a $13bn (£8bn) settlement with the Department of Justice (DoJ). The giant bank is paying up after admitting selling toxic mortgage-backed securities in the boom years, and is accepting responsibility for the actions of Washington Mutual [...]
What the other papers say this morning – 20 November 2013 November 19, 2013 FINANCIAL TIMES Investors attack BoA settlement Bank of America’s plan to pay $8.5bn to compensate 22 institutional investors for soured mortgage-backed securities is a “Frankenstein settlement”, and should be rejected, a lawyer for a dissenting group of investors told a New York judge Tuesday. The claim came as lawyers for investors locked in combat over [...]