Newest Member of the Bank’s Rate Regulation Committee Views Increase a Necessity

The Bank of England’s Monetary Policy Committee (MPC) member Martin Weale has issued a writing in which he states that the interest rates should rise quickly to slow inflation and give the economy an opportunity for growth.  He stated in the writing of his first analysis for the Guardian that he expects the standard base [...]

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Leeds Building Society Deposits Reach Record High

Leeds Building Society’s outgoing chief executive sees the Institution continuing on a strong path after reporting 10 per cent increase in pre-tax profits for H1.  Ian Ward is stepping down next year from his chief executive position after serving LBS for the last 15 years.  They reported new lending totaled 400 million pounds and the [...]

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New Paper by MPC Member Suggests Higher Bank Capital Reserve Ratios to be Met above Current Basel Regulations

The Bank of England as well as the Financial Services Authority have been keen on finding rules and regulations to safe guard against a repeat of the bank failures that occurred in the previous financial crisis which occurred in 2008 and 2009.  The banks became in essence too big to fail and it required the [...]

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Vince Cable Says “No Go” on Big Bank Bonuses

Excessive bonuses, huge incentives, and a risk taking culture – they might exist at some banks, but they will be held to a minimum in UK banks while Vince Cable is in office.  The business secretary said there will possibly be further taxation on these institutions to keep things like this in check.  Although finance [...]

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Ireland Bailout a Done Deal

The country of Ireland, although fiercely independent, is in trouble, deep trouble.  For several weeks they have claimed the financial side of the country was in sustainable shape.  The wheels seem to have fallen off an automobile that was already running on its last cylinder.  The International Monetary Fund and the European Union have come [...]

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Inflation Report Expected to Show Another Target Miss

The Bank of England’s Monetary Policy Committee (MPC) fell short of reaching its inflation target rate of 2 per cent, or at least that is what analysts are predicting will be revealed in new data.  The Office for National Statistics on Tuesday will release the new Consumer Price Index (CPI), which is the MPC’s official [...]

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Industry Proposed Taskforce will Review Bank Lending for Solutions to Help Small Business

The UK’s six major banks have informed Chancellor George Osborne that they have formed a taskforce to examine how the lenders can better serve small businesses in an effort to support the UK economy’s recovery.  Stephen Green, chairman of HSBC as well as the British Banker’s Association, will lead the group.  This is the response [...]

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HSBC Gives Strong Warning To Banking Commission

The government’s Banking Commission is trying to study and come up with regulations that can prevent the near collapse of an economy due to the failure of a bank, such as what nearly happened if not for the government’s bailout of banks such as RBS.  One possible solution is to prevent banks from becoming too [...]

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Lending to Small Business

Project Merlin, the much vaunted talks between government and the UK’s biggest banks, began with a bang and ended with a whimper. It was “a damp squib”, said Ed Balls, the Shadow Chancellor. It is useless now to talk about the bonus payouts distributed to bank staff. The bonus pool survived virtually intact, despite all [...]

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High Street Banks Deliver Best of Bad Service

One of the things most of us don’t change during our adult life is our bank.  This has been proven to a certain extent, as two years ago the Office of Fair Trading discovered 64 per cent of consumers had always had the same account.  As a result, many bank clients are finding both the [...]

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