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Source : Banking Times

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Watchdogs propose consumer protection committee

Banking Times: 1 day ago
The Financial Services Authority (FSA), Office of Fair Trading (OFT) and Financial Ombudsman Service (FOS) want to boost public confidence in the UK's financial services sector by setting up a consumer protection committee. The proposed committee ... ...read article

Lehman report criticises executives and auditors

Banking Times: 1 day ago
The collapse of Lehman Brothers is the subject of a newly released report that severely criticises senior executives at the bank along with its auditor, Ernst & Young. The report was ordered by a US court and it author, bankruptcy specialist Anton ... ...read article

FSA redesigns bank stress tests

Banking Times: 2 days ago
In its 2010 Financial Risk Outlook report, the Financial Services Authority (FSA) has told UK banks they must retain core tier one capital ratios of at least 4%. While acknowledging that the UK economy is expected to continue to recover, the ... ...read article

Credit and Debit card fraud down 28%

Banking Times: 2 days ago
New figures from The UK Cards Association (UKCA) show total fraud losses on UK credit and debit cards falling by 28% between 2008 and 2009 (to £440.3 million) marking the first annual decline since 2006. According to the Association, industry ... ...read article

Barclays rolls out contactless plastic for businesses

Banking Times: 2 days ago
Barclays says it has become the first bank in Europe to provide contactless debit cards for business customers. The technology enables users to pay for low-value transactions by holding their card over a reader, without the need to enter a PIN or ... ...read article

Improving valuation assumptions

Banking Times: 2 days ago
In this article, James West, a director in the new Valuation & Risk Strategies group at Standard & Poor’s Fixed Income Risk Management Services division, discusses the findings from the latest survey into structured finance market participants’ ... ...read article

FSA alert on bank accounts with insurance add-ons

Banking Times: 2 days ago
In its 2010 Financial Risk Outlook report, the Financial Services Authority (FSA) notes that banks are responding to today's pressures by increased diversification into products and services that generate fee income, possibly at the customer's ... ...read article

New Zealand keeps 2.5% interest rate

Banking Times: 2 days ago
The Reserve Bank of New Zealand has elected to retain the OCR (Official Cash Rate) at 2.5%. Governor Alan Bollard has stated that the country's economy is recovering in line with expectations, and is forecast to improve throughout 2010. Bollard added ... ...read article

Commerzbank enhances Beijing branch

Banking Times: 2 days ago
German firm Commerzbank is enhancing its Beijing branch with a range of new services aimed at small and medium-sized enterprises (SMEs). In the future German and Chinese business clients will be able to access the firm's full portfolio of corporate ... ...read article

Thousands of HSBC private bank account details stolen

Banking Times: 2 days ago
HSBC has confirmed that around 24,000 customers of its Swiss private bank had their personal details stolen three years ago. Since then, 15,000 accounts have remained active, although HSBC does not believe they can be accessed by anyone in possession ... ...read article

Santander urges current account review

Banking Times: 3 days ago
Santander is challenging the lethargy that underlies the reluctance of Britons to save money by switching bank accounts. Research from the Spanish banking giant indicates that 70% of UK adults (or over 34 million people) have not switched their main ... ...read article

FSA holds fire on enhanced liquidity regime

Banking Times: 3 days ago
The Financial Services Authority (FSA) is holding fire on its enhanced liquidity regime, which aims to ensure financial firms' capital buffers reflect the lessons of the credit crisis. The details of the regime were published in October 2009, but the ... ...read article

Northern Rock reports falling losses in 2009

Banking Times: 3 days ago
State-owned bank Northern Rock has seen a substantial reduction in its annual losses, the BBC has reported. The bank lost £257.4m in 2009, down from £1.36bn the previous year, with underlying losses (excluding one-off gains) of £383m. It also ... ...read article

Coventry and Stroud & Swindon confirm merger talks

Banking Times: 4 days ago
There is mounting speculation regarding the prospect of a merger between Coventry Building Society and Stroud & Swindon Building Society. In response to the speculation of the rumour mill, the Boards of the two societies have issued a statement ... ...read article

S&L profits increase by 118%

Banking Times: 4 days ago
The mortgage arm of the KCB (Kenya Commercial Bank), S&L, has seen its pre-tax profits skyrocket by 118% to achieve 2009 profits of Ksh1.015bn, up from 2008's pre-tax profit of Ksh.465m. Total asset rose from Ksh11.5bn to Ksh.19.2bn, with operating ... ...read article

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