Financial Regulatory Forum

UK government banker quits key role in RBS, Lloyds stake sale

January 11, 2010

By Steve Slater and Douwe Miedema

LONDON, Jan 11 (Reuters) – The banker tasked with selling Britain’s stakes in Royal Bank of Scotland (RBS) and Lloyds quit in a surprise move on Monday, a potential blow to the government’s hopes of turning a profit on the holdings.

Lloyds Bank in $217 million settlement with U.S.

December 22, 2009

WASHINGTON, Dec 22 (Reuters) – Britain’s Lloyds TSB Bank Plc reached a $217 million settlement of charges it violated U.S. sanctions regulations, the Treasury Department said on Tuesday.

EU approves Lloyds restructuring plan

November 18, 2009

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009.   REUTERS/Stefan Wermuth (BRITAIN BUSINESS) BRUSSELS, Nov 18 (Reuters) – Plans by British lender Lloyds Banking Group Plc to sell parts of its operations in return for billions of pounds in state aid were approved by European Union competition authorities on Wednesday.

EU clears revamp plans for Lloyds, ING, KBC

November 18, 2009

LLOYDS/   BRUSSELS, Nov 18 (Reuters) – Plans by three major European banks to sell chunks of their operations in return for state aid were approved by EU authorities on Wednesday, marking the latest regulatory-enforced financial break-ups. (more…)

Big-bank containment strategy catches on in US, EU

November 3, 2009

By Kevin Drawbaugh
WASHINGTON, Nov 3 (Reuters) – The government should be able to restrict the size of financial firms so they do not become “too big to fail,” two key U.S. Democratic lawmakers said on Tuesday, echoing proposals being made in Europe.

US lawmaker favors curbing size of financial firms

November 3, 2009

WASHINGTON, Nov. 3 (Reuters) – The government should have the authority to break up or reconstruct financial firms before they become “too big to fail,” a prominent U.S. lawmaker said on Tuesday.

RBS faces forced sales and 3,700 UK job cuts

November 2, 2009

A customer uses a Royal Bank of Scotland (RBS) cash machine in Edinburgh, Scotland August 7, 2009.    (BRITAIN BUSINESS BANKING)   By Clara Ferreira-Marques
LONDON, Nov 2 (Reuters) – Royal Bank of Scotland said it would be forced to sell more assets than it had expected and axe 3,700 jobs from its retail business as another radical shake-up loomed for Britain’s banks.

Crunch week for Lloyds as regulators near verdict

October 23, 2009

By Victoria Howley and Douwe Miedema
LONDON, Oct 23 (Reuters) – Lloyds Banking Group faces a crunch week over its plans to plug a 20 billion pound ($33.30 billion) hole in its capital before Christmas, with a key decision resting with UK regulators.

Britain to weigh Lloyds plans this weekend – source

October 16, 2009

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009. REUTERS/Stefan Wermuth (BRITAIN BUSINESS) By Douwe Miedema
LONDON, Oct 16 (Reuters) – Britain’s financial watchdogs will this weekend make up their minds about Lloyds Banking Group’s plans to raise private capital and escape further government control, a source close to the situation said.

NEWSMAKER-EU state aid experts mix pragmatism, tough talk

October 16, 2009

By Foo Yun Chee

BRUSSELS, Oct 16 (Reuters) – Neelie Kroes, the European Union antitrust czar, has picked two high-fliers with a wealth of financial and state aid experience to help restructure Europe’s banking landscape in the wake of the credit crisis.