Financial Regulatory Forum

UK regulator outlines plans to ban “liar loans”

   LONDON, Oct 19 (Reuters) – Britain’s financial regulator plans to force mortgage lenders to check the income of all borrowers, scrapping so-called “liar loans” blamed for helping to fuel bad debt problems at the heart of the credit crunch. (more…)

UK bank liquidity rules phased in over years

fsa_logo By Huw Jones
LONDON, Oct 5 (Reuters) – Britain’s financial watchdog said on Monday that banks will have several years to comply with tougher liquidity rules aimed at ensuring the sector can navigate sudden market storms without government help. (more…)

Britain’s ailing Labour takes aim at bankers

Britain's Chancellor of the Exchequer Alistair Darling leaves 11 Downing Street for the weekly Prime Minister's Questions session at the House of Commons in central London July 1, 2009. REUTERS/Andrew Winning (BRITAIN POLITICS BUSINESS)   By Sumeet Desai and Matt Falloon
   BRIGHTON, England, Sept 28 (Reuters) – Britain’s Labour Party, trailing in opinion polls ahead of an election next year, promised on Monday to clamp down on bank bonuses and said it had the right policies to overcome recession. (more…)

BoE’s King sees signs growth starting to return

A video grab image shows Bank of England governor Mervyn King speaking to parliament's Treasury committee in London March 24, 2009. The euro hit a session low against a buoyant pound on Tuesday after King said he saw no reason why the pound should go any lower. The euro fell to a session low of 91.72 pence, 1.9 percent lower on the day. It was last at 91.83 pence. The pound was also 1.2 percent higher at $1.4743.  REUTERS/ Parbul TV via Reuters TV (BRITAIN BUSINESS POLITICS) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS    LONDON, Sept 24 (Reuters) – Britain’s economy is showing signs of recovery, but any improvement is likely to be small compared to the sharp drop in output caused by the global financial crisis, Bank of England Governor Mervyn King said in an interview published on Thursday. (more…)

BoE’s King may get EU watchdog role to win over UK

A video grab image shows Bank of England governor Mervyn King speaking to parliament's Treasury committee in London March 24, 2009. The euro hit a session low against a buoyant pound on Tuesday after King said he saw no reason why the pound should go any lower. The euro fell to a session low of 91.72 pence, 1.9 percent lower on the day. It was last at 91.83 pence. The pound was also 1.2 percent higher at $1.4743.  REUTERS/ Parbul TV via Reuters TV (BRITAIN BUSINESS POLITICS) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS   By John O’Donnell
   BRUSSELS, Sept 22 (Reuters) – Bank of England Governor Mervyn King could be given a prominent role in European Union super-watchdogs being set up to monitor banks and market risks to win British backing for the plan, diplomatic sources 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…)

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…)

UK to expand finance for smaller firms -Darling

BRITAIN/    LONDON, Sept 12 (Reuters) – Britain is looking at ways to  expand credit lines to smaller companies that currently have to rely almost entirely on banks for their funding, finance minister Alistair Darling said on Saturday. (more…)

EU plans powerful new banking watchdog -draft

eu-flag   BRUSSELS, Sept 10 (Reuters) – The European Union plans to create a banking super-watchdog and give it power to overrule countries such as Britain, according to draft legislation that could come into effect next year. (more…)

Switzerland signs tax deal with UK

UBS/TAX   ZURICH, Sept 7 (Reuters) – Switzerland and the UK have signed a new treaty giving British tax authorities more access to banking information and taking the Swiss one step closer to being taken off an international list of tax havens. (more…)

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