Banks

The Bank of England’s Financial Policy Committee reported today that UK banks need an additional £25 billion in aggregate on reserve to guard against what Andrew Bailey called “inadequate provisions for losses on loans.”  The committee wants the extra capital raised by December. There is at least one small catch.  The banks are going to have […]

A day after the Cypriot government reached an agreement with the Eurogroup for the terms of the 10-billion euro bailout package, a new set of directives were given to bank managers today as citizens marched on the streets of Cyprus’ capital, Nicosia, in protest of the bailout terms. In a report presented by BBC’s Paul […]

Amidst a new financial crisis threatening the stability of the Eurozone, central banks trying to keep their currencies in check to boost their local economies, and governments tightening their grips to protect the integrity of the financial markets, one financial instrument in circulation around the world is on the rise and poised to become the […]

Has Cyprus made things worse for the UK listed banks? Or were their shares on such a roll that nothing can stop them. Robert Sutherland Smith worked through his first banking crisis just six years into his City career. That was in 1973. Thirty years later he has produced a report on where the banks […]

After a week of uncertainty, Cyprus has finally reached a deal acceptable to both its parliament and its international creditors. The deal, formally announced earlier today, will spare deposits below 100,000 euros from any levy, in accordance with EU principles, but deposits above the said amount, however, will bear the burden of raising the 5.8 […]

The price on the Royal Bank of Scotland (LSE:RBS) is going downwards and would keep on doing so. Since the price reached its yearly peak in January 2013, it has been coming down. The 4 EMAs used on the chart (the EMAs 10, 20, 50 and 200) confirm the statement above. The EMAs 10, 20 […]

The whole world has set their eyes on the events unfolding in the tiny island state of Cyprus, whose Parliament is set to vote on whether to uphold or reject the bailout terms presented by 17-member Euro currency bloc. At the time I started my writing of this article, the Cypriot Parliament has just started […]

HSBC Holdings plc (LSE:HSBA) is the first to draw blood amongst British banks this year as it faces yet another charge of money laundering and tax evasion cases, the same accusation that had the bank paying £1.2 billion (US$1.9 billion) to US authorities in 2012. Late yesterday, Argentina’s Administrador Federal de Ingresos Publicos de Argentina […]

Stock markets around the globe treaded downhill in reaction to the planned bailout of Cyprus that will see deposits in banks within the island state charged a one-time levy to avert bankruptcy – a move that spark public rage amongst Cypriots as well as emptying of ATM’s. On Saturday, the European Union and the International […]

Following the trend in the UK’s banking sector, Santander UK is the latest bank to divulge a detailed report on how much its top executives received in 2012, a year full of controversy and billion pounds of fines that hit the sector. In its unedited annual report released earlier today, Santander disclosed there were 19 […]