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Sep 19, 2014

Lloyds keeps door open for move south despite Scottish ‘no’ vote

LONDON, Sept 19 (Reuters) – Scotland-based Lloyds Banking
Group left the door open for a move to London amid
uncertainty over the future shape of the United Kingdom despite
Scottish voters’ rejection of full independence.

British Prime Minister David Cameron pledged to devolve more
power to Scotland and other regions after the referendum made it
clear that Scotland wants a greater say on spending and
taxation, which could complicate the tax affairs of companies
with offices across the United Kingdom.

Sep 18, 2014

Two small Russian banks taken off Canada sanctions list

OTTAWA/LONDON, Sept 18 (Reuters) – Canada, one of the
harshest critics of Russia’s involvement in Ukraine, this week
quietly cancelled sanctions against Expobank and RosEnergoBank,
two small Russian banks on which it imposed the measures earlier
this year.

The cancellations were put into effect at the same time as
new sanctions were announced by Foreign Affairs Minister John
Baird on Tuesday, including adding Russia’s Sberbank
to the list, but his news release made no mention of lifting the
measures against Expobank and RosEnergoBank.

Sep 13, 2014

UK banks slam leverage plans as too complex, may increase risk

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).

Sep 12, 2014

Lending to Scots could pause with ‘yes’ vote amid currency concern

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
sources said.

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.

Sep 12, 2014

Barclays picks Aviva’s McFarlane as chairman to oversee revamp

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.

Sep 11, 2014

UK banks grapple with threat of 5 pct leverage ratio

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
significant.

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.

Sep 11, 2014

Top banks reduce capital shortfall to $20 billion: BIS

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.

Sep 10, 2014

Ana Botin steps into spotlight as Santander’s new boss

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.

Sep 8, 2014

RBS set to raise $4 bln from U.S. listing of Citizens

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).

Sep 5, 2014

Japan’s MUFG targets U.S. deals to bulk up dollar deposits

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.

    • 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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