RBS on renewed drive to cut costs and shed assets after Bank of England stress test flop November 30, 2016 The Royal Bank of Scotland will now renew efforts to slash costs and shed assets, as it tries to bolster its balance sheet after flunking the Bank of England's most recent stress test. The worst performer of the seven lenders tested, RBS will now be monitored by the Bank's prudential regulation authority and has had to [...]
RBS shares opened lower after it was the worst performer in Bank of England stress tests November 30, 2016 Royal Bank of Scotland (RBS) became one of the biggest fallers on the FTSE 100 this morning, with shares opening 2.3 per cent lower at 192.5p, after it was revealed as the worst performer in the Bank of England's stress tests. Having dipped almost three per cent yesterday, shares in RBS fell further this morning after [...]
This is how UK banks have responded to the Bank of England stress test results November 30, 2016 The results of the Bank of England's latest stress tests on the UK's major lenders are out – and Royal Bank of Scotland has been handed the wooden spoon. RBS failed on all measures, while Barclays and Standard Chartered both missed out on one measure. The other banks being tested were Santander UK, Lloyds Banking Group, [...]
The results are out: Here’s how your bank would do if 2008 repeated itself November 30, 2016 Royal Bank of Scotland has failed all of the Bank of England's stress test measures, the worst performer among the UK's major lenders. RBS will now have to draw up a new capital plan, and the Bank's prudential regulation authority (PRA) will monitor its progress. RBS finance chief Ewen Stevenson said: "We are committed to creating a stronger, [...]
Accenture has just bought one of London’s hottest ad agencies November 29, 2016 Accenture's getting into trendy ads, it seems – after it bought Karmarama, one of London's hottest ad agencies. The company, known as much for its achingly trendy office as it is for its campaigns for the likes of the BBC, Confused.com, Honda, Just Eat and Unilever, has a team of 250 employees. The consultancy said [...]
Major banks’ shares fall as investors prepare for Bank of England stress tests November 28, 2016 Banks' shares were among the biggest fallers in the FTSE 100 this morning as investors brace themselves for the Bank of England's stress test results later this week. At time of writing: Shares in Royal Bank of Scotland are down 2.1 per cent at 197.3p, Barclays is down 1 per cent at 213.3p, Lloyds Banking Group is [...]
The FTSE fell sharply at the open as bank stocks slid and Opec spooked oil markets November 28, 2016 The FTSE 100 is recovering slightly after posting a sharp fall at the open on Monday, as oil and bank stocks weighed on the index. The Bank of England is set to announce the results of its stress tests for UK banks on Wednesday. The stress tests investigate how the banks would fare in a [...]
What you need to know about the Bank of England’s stress test on Wednesday November 27, 2016 Wednesday will be judgement day for lenders across the UK, as the Bank of England is due to release its most recent set of stress test results. The annual stress test is designed to measure the financial health of the UK's seven major lenders – Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, the Royal Bank of [...]
Citi and JP Morgan top regulators’ list of systemically important banks, as HSBC and Barclays move to lower tier November 21, 2016 Citigroup has joined JP Morgan Chase as one of the world's top two "systemically important banks", according to an updated list published today by the Financial Stability Board (FSB). Banks in the top tier will have to hold 2.5 per cent of their assets as buffer capital in case of another crisis. This means that US [...]
Protecting the crowd: Platforms must lead the due diligence charge November 16, 2016 The issue of due diligence could become a talking point again once the FCA completes its scheduled review of the crowdfunding rules it introduced in 2014. While we’ve not seen evidence that further regulation of investment-based crowdfunding will be recommended, as the industry matures, it’s time for crowdfunding platforms to step up and work together [...]