Financial Regulatory Forum

COLUMN: EU tilt at UK small-business loan market a tall order: Alexander Smith

A customer uses a Royal Bank of Scotland (RBS) cash machine in Edinburgh, Scotland August 7, 2009.  Royal Bank of Scotland reported more losses on Friday as investment banking profits failed to offset bad debts and the state-owned lender warned of more "poor" results to come before its own and the economy's recovery.    REUTERS/David Moir    (BRITAIN BUSINESS BANKING)– Alexander Smith is a Reuters columnist. The opinions expressed are his own -

By Alexander Smith
LONDON, Oct 6 (Reuters) – If Brussels is really planning to force Royal Bank of Scotland  and Lloyds Banking Group to give up small business customers as part of the price for state aid they have received, it will be trying to break a cartel which has persisted despite the best efforts of the British government.

(more…)

EU’s Kroes says Lloyds bank needs to shrink presence

BRUSSELS, Sept 29 (Reuters) – Partially-nationalised British
bank Lloyds needs to shrink its activities in areas
where it is currently dominant to compensate for taking billions
of pounds in state aid, the European Union’s antitrust chief
said.

(more…)

EU break-up threat looms over Britain’s Lloyds

A pedestrian passes the head office of the Lloyds Banking Group in central London August 5, 2009. REUTERS/Stefan Wermuth By Clara Ferreira-Marques
LONDON, Sept 16 (Reuters) – Lloyds Banking Group, Britain’s largest retail bank, faces an uncertain future as the EU considers whether to force a carve-up of its current structure and the sale of its Halifax unit, analysts said.

(more…)

EU may force UK’s Lloyds to sell Halifax – report

Signs hanging over the Lloyds TSB Bank and Royal Bank of Scotland are seen in Loughbrough, central England, September 17, 2008. British bank Lloyds is in advanced merger talks with UK mortgage lender HBOS, the BBC reported on Wednesday, citing sources. HBOS, the group created by the merger of Halifax and Bank of Scotland, is Britain's largest savings group. REUTERS/Darren Staples (BRITAIN)    LONDON, Sept 15 (Reuters) – The European Commission may force Lloyds Banking Group <LLOY.L> to sell off all or part of its Halifax branch network as compensation for the billions of pounds of state aid the group has received, the London Times reported. (more…)

EU races towards ruling in UK banks probe

By John O’Donnell and Foo Yun Chee
BRUSSELS, Sept 15 (Reuters) – The EU’s executive arm will be primed for a decision within weeks on whether to let Lloyds and Royal Bank of Scotland offload problem investments to the state, a ruling that could force a shake-up of the troubled lenders.

(more…)

EU raises doubts about ING, Dutch loan deal

By Ben Berkowitz
AMSTERDAM, Sept 15 (Reuters) – The European Commission has extended a review of a 22 billion euro ($32 billion) loan portfolio guarantee between ING and the Dutch state, saying the government may have paid too much.

(more…)

UK’s Darling to force ‘living wills’ on banks – report

LONDON, Sept 15 (Reuters) – UK Finance Minister Alistair Darling plans to force the country’s banks to draw up ‘living wills’ that would allow them to be dismantled more easily in the event of another financial crisis, the Financial Times reported.

(more…)

UK Tories eye retail investors for RBS, Lloyds -FT

BRITAIN/    LONDON, Sept 14 (Reuters) – Shadow UK chancellor George Osborne is looking at selling a tranche of shares in Royal Bank of Scotland <RBS.L> and Lloyds Banking Group <LLOY.L> to retail investors, the Financial Times reported. (more…)

EU to review bonuses at state-aided banks – competition regulator

European Commissioner for Competition Neelie Kroes speaks during a news conference at the European Commission headquarters in Brussels July 8,2009. BRUSSELS, Sept 11 (Reuters) – European Union competition regulators are set to take a closer look at bonuses at state-aided banks, the EU’s antitrust chief said on Friday.
(more…)

Lloyds’ chair elect backs clawbacks in banker pay

LLOYDS/    By Huw Jones
   LONDON, Sept 10 (Reuters) – Clawbacks would help tackle public concern over bank bonuses, as would deferring parts of a pay package, said Win Bischoff, incoming chairman of Britain’s Lloyds Banking Group <LLOY.L>. (more…)

  •