One of the most reliable rules of thumb in finance is surely this: when bankers crack open the champagne, everyone else needs to start worrying – hard. Well, the next few days will most probably be soundtracked by a fusillade of popping corks, as Lloyds, RBS and other high-street banks put out bumper half-year performance reports. Continue Reading…
The US banking system continues to wobble under financial woes, with 13 banks on an average going belly up every month in 2010. Continue Reading…
August 13 is pencilled in as the date for his departure as chairman of the Office for Budget Responsibility. Continue Reading…
European finance ministers will shift their focus next week onto a possible need for banks to raise more capital and on who will cover any shortfalls exposed by stress tests — a sum which Credit Suisse estimated could reach 90 billion euros ($114 billion). Continue Reading…
How much stress can Europe’s banking system take? Continue Reading…
That question has put markets on edge amid the continent’s government debt crisis, and European Union leaders hope to take a big step towards restoring confidence with the publication later this month of “stress tests” on 91 banks representing the bulk – 65 per cent – of the European banking system. Continue Reading…
London’s FTSE 100, which rose 1pc on Wednesday, gained a further 1.8pc to 5105.45 on Thursday. Aggreko led the charge with a 5.68pc increase after HSBC boosted its rating to “overweight”. Continue Reading…
In a controversial move it has been revealed that European leaders will publish the result of banking stress tests on 25 of Europe’s largest banking institutions. Continue Reading…
Terrence Zimmerman, of Florence, believes he’s pretty responsible with his money. “In eight years, I’ve only had one overdraft fee,” he said. Continue Reading…
The task of supervising the banking system was removed from the Bank of England in 1997 and transferred to the new Financial Services Authority (FSA) because New Labour thought the Bank had made a hash of it. Continue Reading…