Financial Regulatory Forum

Regulator blocks Royal Bank of Scotland payout of subordinated bonds

September 4, 2009

By Jane Baird and Jane Merriman
LONDON, Sept 4 (Reuters) – Royal Bank of Scotland will not exercise options to redeem more than $1.5 billion of subordinated debt next month after regulators objected to it using state aid to repay the low-ranked bondholders.

Lloyd’s bank surprises with review of unit’s branch closing plans

August 19, 2009

Pedestrians are reflected in a plaque at the entrance to a branch of the Cheltenham and Gloucester Building Society in central London June 9, 2009.LONDON, Aug 19 (Reuters) – Lloyds Banking Group, Britain’s largest retail bank, said on Wednesday it was reviewing a decision to close all branches of its Cheltenham & Gloucester unit, surprising employees and investors.

Northern Rock defers payments to bondholders, ahead of likely EU order

August 18, 2009

By Tom Freke and Clara Ferreira-Marques
LONDON, Aug 18 (Reuters) – State-owned British bank Northern Rock said on Tuesday it would defer paying interest on a range of subordinated bonds, propping up its capital position and preempting an anticipated European Commission requirement.

UK regulator reviews RBS purchase of ABN Amro

August 17, 2009

RBS/    LONDON, Aug 16 (Reuters) – Britain’s financial regulator has launched a supervisory review of Royal Bank of Scotland’s <RBS.L> takeover of ABN Amro, the Scottish bank said on Sunday.

Britain’s central bank surprises with expanded easing

August 6, 2009

By David Milliken and Matt Falloon
LONDON, Aug 6 (Reuters) – The Bank of England took a far
bigger step than expected to boost Britain’s recession-hit
economy on Thursday, stunning markets by expanding its
quantitative easing plan to 175 billion pounds from 125 billion.

Chief executive to quit UK body holding state bank stakes

July 28, 2009

By Sumeet Desai and Steve Slater
LONDON, July 28 (Reuters) – The body that manages Britain’s multi-billion pound stakes in the country’s part- and fully nationalised banks, said on Tuesday that John Kingman would quit as its chief executive.