LONDON, Sept 14 (Reuters) – Britain’s banks have slammed
plans to impose new capital rules for lenders and said the
“leverage ratio” proposals are far too complex and could
encourage banks to take more risks.
“There is a risk that the current proposals will increase
costs for bank customers and conflict with other rules that seek
to make banks safer,” said Simon Hills, a director at the
British Bankers’ Association (BBA).
LONDON, Sept 12 (Reuters) – Scots may find it harder to get
mortgages and other loans if they vote to separate from the
United Kingdom next week, with banks likely to cut lending while
they assess currency and other economic risks, bank industry
The sources, who asked not to be named due to the
sensitivity of the matter, said it was impossible to say how
long any pause or reduction in lending might last, but it could
be lengthy if the currency question was not quickly clarified.
LONDON, Sept 12 (Reuters) – Barclays has appointed
banking and insurance veteran John McFarlane as its new chairman
to oversee the British bank’s efforts to stamp out wrongdoing
and improve performance.
McFarlane, a Scot, will step down as chairman of British
insurer Aviva and take the Barclays hot seat in April.
LONDON, Sept 11 (Reuters) – For Britain’s under-fire banks a
torrent of regulatory challenges passes another marker on Friday
with a deadline for views on a reform of their “leverage”
ratios, a key measure of their level of insulation against
future financial crises.
Industry insiders see the implications of the reform as
Expectations are that banks may be required to raise their
leverage ratios to as high as 5 percent, from a current 3
percent, implying a further multi-billion pound stockpiling of
capital to shield them from future losses.
LONDON (Reuters) – The world’s top banks have almost eliminated the shortfall in capital they would have if new regulations that are being phased in were in full force already.
The Bank for International Settlements (BIS) said on Thursday the world’s top 102 banks would have been 15.1 billion euro ($19.5 billion) short of capital to reach a 7 percent target for common equity at the end of December, compared with an estimated shortfall of 57.5 billion euros six months earlier.
MADRID/LONDON, Sept 10 (Reuters) – Ana Patricia Botin has
been schooled for decades to replace her father Emilio Botin at
the helm of Santander, ensuring that Spain’s banking
dynasty will remain in charge of the euro zone’s biggest bank.
Santander’s board of directors unanimously appointed Ana
Botin as chairwoman on Wednesday, a day after her father died of
a heart attack at 79, making her the fourth generation of Botins
to run the bank.
LONDON, Sept 8 (Reuters) – State-backed Royal Bank of
Scotland plans to raise up to $4 billion from the share
flotation of its U.S. bank Citizens Financial Group this month,
putting it on track to be the biggest U.S. share offering by a
bank this year.
RBS, which is 81 percent owned by the UK government after
being bailed out in 2008, has come under pressure from UK
regulators to improve its capital base and focus on its core
domestic business, and the bank had already made clear it
planned to sell up to a quarter of Citizens this year through an
initial public offer (IPO).
LONDON (Reuters) – Japan’s Mitsubishi UFJ Financial Group is confident it will buy more retail banks in the United States to vault it into the country’s top 10 banks and allow it to make use of more dollar deposits, a top executive told Reuters.
MUFG, Japan’s biggest bank, wants to become one of the 10 largest U.S. banks as it seeks to grow its international business to make up for weak prospects in Japan due to an aging population.
LAGOS/LONDON, Sept 5 (Reuters) – Atlas Mara, the
African investment vehicle of former Barclays boss Bob Diamond,
said it had increased its stake in Union Bank of Nigeria
to almost 30 percent for $270 million.
The deal marks the third significant acquisition by Atlas
Mara, set up last year by Diamond and Africa-based entrepreneur
Ashish Thakkar, as it seeks to build the firm into Africa’s
leading bank. It raised $300 million last month to add to its
acquisition war chest.
LONDON, Sept 5 (Reuters) – Barclays is launching a
finger scanner for corporate clients and will roll out voice
recognition for millions of retail clients next year as it steps
up use of biometric recognition technology to combat banking
The British bank said it has teamed up with Japanese
technology firm Hitachi to develop a biometric reader
that scans a finger and identifies unique vein patterns to
access accounts, instead of using a password or PIN.