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Jan 20, 2015

Overseas bank lending to Russia, Ukraine slid in July-Sept – BIS

LONDON, Jan 20 (Reuters) – Lending to Russia by overseas
banks slumped by $11 billion between July and September last
year and lending to Ukraine fell by $2.3 billion as political
and economic tension in the region increased, lending data
showed.

International banks reduced their lending to Russia in the
year to the end of September by $46 billion, or 19 percent, to
$196 billion, after risk-based adjustments, according to data
released on Tuesday by the Bank for International Settlements.
The BIS data track cross-border lending by banks.

Jan 16, 2015

Swiss franc shock shuts some FX brokers; regulators move in

LONDON (Reuters) – The Swiss franc shock reverberated through currency trading firms on Friday, dealing the heaviest blows to those catering for small-scale retail clients and forcing regulators to take a closer look at the sector.

Some major banks also lost out when the Swiss National Bank lifted its cap on the franc without warning on Thursday, including Britain’s Barclays (BARC.L: Quote, Profile, Research) which lost “tens of millions” of dollars, an industry source said.

Jan 16, 2015

U.S. bank results signal bonus dip for London and New York bankers

LONDON (Reuters) – London and Wall Street bankers look set to get slightly lower bonuses for 2014 than the year before, based on pay details released this week by big U.S. banks and expectations in the industry.

Goldman Sachs said on Friday its staff were paid $12.69 billion in compensation and benefits for 2014, up 0.6 percent on 2013. That equated to an average of $373,000 for its 34,000 employees, down 2.6 percent after it added staff in the year.

Jan 16, 2015

UK banks tell nine trade groups they should merge

LONDON (Reuters) – Banks told nine trade associations in Britain on Friday they should merge into a single body to strengthen lobbying in Europe and slash membership costs.

A working group of banks that includes HSBC, Barclays and Lloyds said in a consultation paper there are too many trade groups, leading to duplication of lobbying and a lack of strategic direction.

Jan 15, 2015

Swiss banks hammered as earnings face hit from currency surge

LONDON (Reuters) – Shares in Switzerland’s two big banks UBS and Credit Suisse slumped as much as 15 percent on Thursday after a massive strengthening in the Swiss franc raised the threat that reported earnings will be hit hard.

The Swiss National Bank (SNB) shocked financial markets by scrapping a three-year-old cap on the franc, sending it soaring nearly 30 percent against the euro. The SNB also cut interest rates, which were already negative, to minus 0.75 percent.

Jan 12, 2015

StanChart faces $4.4 bln commodities hit, may need to raise cash -analysts

LONDON, Jan 12 (Reuters) – Asia-focused bank Standard
Chartered could need $4.4 billion of extra provisions
to cover losses from commodities loans, potentially forcing it
to raise billions of dollars from investors, analysts said on
Monday.

Credit Suisse analysts said the losses could force Standard
Chartered to raise $6.9 billion to improve its core capital
ratio to 11 percent by the end of the year.

Jan 9, 2015

Santander shares tumble after 7.5 bln euro share sale

MADRID/LONDON, Jan 9 (Reuters) – Shares in Spain’s Santander
tumbled more than 10 percent on Friday after the bank
sold 7.5 billion euros ($8.9 billion) of new shares at a steep
discount, aiming to improve its capital strength and fund
growth.

The eurozone’s biggest bank announced the quick-fire share
sale late on Thursday and sold 1.2 billion shares at 6.18 euros
apiece, at the bottom of the indicated price range and a 10
percent discount to its previous share price.

Jan 6, 2015

UK banks urge regulator to speed up ringfencing rules

LONDON (Reuters) – Britain’s banks have asked the financial regulator to speed up finalizing new rules to protect their retail customers from riskier parts of their operations to enable them to meet a 2019 deadline.

The Bank of England (BoE) has ordered banks to “ring-fence” their branch activities to protect taxpayers from any future exposure to the sort of multi-billion pound bailouts required to rescue lenders during the 2007-09 financial crisis.

Jan 6, 2015

UK banks warn 2019 ringfencing deadline extremely challenging

LONDON, Jan 6 (Reuters) – Britain’s banks have asked the
financial regulator to speed up finalising new rules to protect
their retail customers from riskier parts of their operations to
enable them to meet a 2019 deadline.

The Bank of England (BoE) has ordered banks to “ring-fence”
their branch activities to protect taxpayers from any future
exposure to the sort of multi-billion pound bailouts required to
rescue lenders during the 2007-09 financial crisis.

Dec 30, 2014

Goldman tops UK banker pay with $4.7 million awarded for 2013

LONDON (Reuters) – Goldman Sachs paid its top 121 London bankers about 3 million pounds ($4.7 million) on average last year, far exceeding payouts at other leading banks, data released on Tuesday showed.

The U.S. investment bank’s data showed that it paid staff in senior or risk-taking positions $193.6 million in 2013 and gave them 2.1 million restricted stock units (RSUs), worth $377 million based on the bank’s share price at the end of that year.

    • About Steve

      "Responsible for overseeing coverage of the European bank sector and direct coverage of the international UK-based banks, based in London. Have been in current role for three years, and for previous three years was UK banking reporter. Have over 15 years experience as a financial newswire journalist in London and New York."
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