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