S&P says US banks still ‘too big to fail’
The largest US banks are still “too big to fail” and holding company creditors could lose out in the event of a collapse, according to a change in ratings guidance…
Swedbank ‘utility banking’ pays dividends
Boring is an epithet few chief executives like for their business. However, in banking being the opposite of a risk-taker is much in demand these days. And among European banks…
Lloyds admits ‘issues’ over PPI claims
The mis-selling of payment protection insurance was one of the biggest consumer scandals in decades and cleaning up the mess poses serious challenges for UK banks. That was the message…
Santander invests €5m in mobile payments
Santander has invested €5m in Swedish start-up iZettle, as the Spanish bank looks for ways to encourage small businesses to accept card payments. iZettle’s card-reading devices, which attach to smartphones…
Bank branches must cosy up to community
There’s a NatWest bank branch where I go on holiday in west Wales that keeps pretty bizarre hours. During the winter months it only opens three days a week, and…
Pressure grows for portable bank accounts
Bank customers could use their mobile phone numbers as portable account identifications in future as the industry comes under increased pressure to improve competition. Research commissioned by the UK Payments…
Deloitte to buy McColl Partners
Deloitte, the consultancy, said on Monday it was buying McColl Partners, a US boutique investment bank, to expand its role in advising middle-market companies. McColl was founded in 2001 by…
Treasury rates bank shares handout plan
A report urging George Osborne to hand out shares in Royal Bank of Scotland and Lloyds to the public was described by the Treasury as “quite robust and well researched”.…
A plush Georgian façade looms large
©Bloomberg Even by Mayfair standards, 14 St George Street is plush. Behind the handsome, broad Georgian facade, the marble-clad interior – renovated at great cost two years ago – is…
EU rules curb options to reshape RBS
©Getty UK options to restructure Royal Bank of Scotland are set to be constrained by EU rules that would effectively stymie any attempt to hive off toxic assets in a…
US targets virtual currencies tax fraud
US officials are targeting virtual currencies due to fears that Americans are using them to evade taxes, opening a new front in the crackdown on tax fraud. Virtual currencies such…
Deutsche Bank opens Singapore gold vault
Deutsche Bank has become the latest bank to tap the growing appetite for precious metals vaults, opening a safe deposit in Singapore capable of holding up to 200 tonnes of…
Metro Bank predicts more entrants
The UK will see between five and 15 new entrants to banking over the next three to five years, according to the founder and former chairman of Metro Bank, the…
MPs set to launch inquiry into FPC make-up
MPs are launching an inquiry into whether the Bank of England’s new Financial Policy Committee is sufficiently independent in the wake of a confrontational hearing last week with new appointees…
Call for sale of bank shares before poll
George Osborne will today be urged to distribute before the next election £34bn of shares in Royal Bank of Scotland and Lloyds – about three-quarters of its total stake in…