Company News: Financial Market News



The BoE and ECB release Discussion Papers on Securitisation & Credit Data

The Bank has published two Discussion Papers, one in conjunction with the European Central Bank on the securitisation market, and the second on improving the availability of credit data. Both of the Discussion Papers we are putting out today – in different, though complementary ways – aim to explore ways through which we can improve the diversity and robustness of credit supply in practice, in line with the Financial Policy Committee’s medium-term priority to improve the diversity and robustness of market-based finance and credit in the United Kingdom. . .

http://www.bankofengland.co.uk/publications/Pages/news/2014/082.aspx

Company News: Financial Market News



Swiss pressure rises on Credit Suisse boss Dougan after U.S. deal

Pressure on Credit Suisse boss Brady Dougan to quit shows no signs of abating in Switzerland following this week’s $2.5 billion (1.48 billion pounds) settlement with the U.S. authorities over charges that it helped Americans evade taxes by hiding their assets in secret bank accounts. . .

http://uk.reuters.com/article/2014/05/21/uk-creditsuisse-dougan-idUKKBN0E11S420140521

Company News: Financial Market News



Deutsche Bank says faces around 1,000 big lawsuits

Deutsche Bank  gave shareholders a sense of the size of its legal and regulatory problems on Thursday, when it said it faced around 1,000 major lawsuits.

http://www.reuters.com/article/2014/05/22/us-deutsche-bank-agm-lawsuit-idUSBREA4L0HR20140522?feedType=RSS&feedName=businessNews

Company News: Financial Market News



HSBC comes under investor fire on bankers’ pay

Reuters) – More than a fifth of HSBC’s shareholders opposed the bank’s pay policy on Friday in the latest show of anger that banks have not reined in bonuses enough in the wake of the financial crisis. . .

http://uk.reuters.com/article/2014/05/23/uk-hsbc-dividends-idUKKBN0E30VR20140523?rpc=401&feedType=RSS&feedName=businessNews&rpc=401

Company News: Financial Market News



Ex-Goldman Partner’s Firm Says UBS Cuts Spoiled Partnership Plan

An asset management firm founded by former Goldman Sachs Group Inc. (GS) partner Vishal Gupta sued UBS AG (UBSN), saying investment banking cuts at the Swiss lender have undermined a joint venture.

http://www.bloomberg.com/news/2014-05-23/ex-goldman-partner-s-firm-says-ubs-cuts-spoiled-partnership-plan.html

Company News: Financial Market News



Barclays fined £26m for failings surrounding the London Gold Fixing and former Barclays trader banned and fined for inappropriate conduct

On 28 June 2012, former Barclays trader Daniel James Plunkett exploited the weaknesses in Barclays’ systems and controls to seek to influence that day’s 3:00 p.m. Gold Fixing and thereby profited at a customer’s expense. . .

http://www.fca.org.uk/news/barclays-fined-26m-for-failings-surrounding-the-london-gold-fixing

Company News: Financial Market News



Credit Suisse Clients Remain Secret as Bank to Help U.S.

Credit Suisse AG, which pleaded guilty yesterday to aiding Americans’ tax evasion, has so far avoided identifying thousands of customers who cheated the Internal Revenue Service. Instead, it promised to point investigators in the right direction.

http://www.bloomberg.com/news/2014-05-20/credit-suisse-clients-remain-secret-as-bank-pledges-to-help-u-s-.html

Company News: Financial Market News



Legal claims over RBS cash call near 4 billion pounds

Hundreds more investors have joined an unprecedented group legal action against Royal Bank of Scotland, alleging they were misled during an emergency cash call in 2008, and are claiming damages of around 4 billion pounds . . .

http://uk.reuters.com/article/2014/05/16/uk-rbs-lawsuit-idUKKBN0DW1BI20140516

Company News: Financial Market News



BIS Working Papers No 448. The exit from non-conventional monetary policy: what challenges?

Monetary policies pursued in response to the financial crisis have shown that changes in central bank balance sheets have major macroeconomic consequences.

http://www.bis.org/publ/work448.htm

Company News: Financial Market News



Banking standards oversight body to be set up

The UK’s main banks have agreed to report each year on their behaviour and competence and to set up an independent body to oversee the industry.

http://www.bbc.co.uk/news/business-27465994#