UBS shares slip after report of US sanctions probe into Credit Suisse September 27, 2023 Shares in UBS slipped today after a report suggested that Credit Suisse is at the centre of a US probe into potential sanctions breaches.
Bank of England delays final Basel bank capital rules to July 2025 September 27, 2023 The Bank of England on Wednesday said it would delay by six months to July 2025 its roll out of the final leg of international bank capital rules that began after the global financial crisis over a decade ago.
City firms’ regulatory burden rises as UK and EU diverge on financial rules September 27, 2023 City firms face an increasing regulatory burden as the UK and the EU begin to diverge on financial services regulation.
Bank of England set to delay bringing in Basel overhaul of banking rules September 25, 2023 The Bank of England is planning to push back implementation of the final round of Basel reforms by six months after receiving a deluge of industry feedback.
Investec expects strong UK performance to drive earnings growth – but flags credit losses September 22, 2023 Banking and wealth management group Investec expects its UK business to ensure earnings growth but warned that credit losses will be towards the higher end of expectations. In a trading update for the first half of the year, the bank forecasts its headline earnings per share to be between six per cent and 12 per [...]
More than 9.6m current accounts switched since service launched a decade ago September 16, 2023 A service which enables current account holders to ditch and switch to a new provider quickly and smoothly is celebrating its 10th birthday. More than 9.6m switches have been counted since the Current Account Switch Service (Cass) launched on September 16, 2013. The free-to-use service can be used by people, small businesses and small charities [...]
Tipping point? City grandees say Square Mile could be set for Big Bang 2.0 September 12, 2023 Canada is at an "inflection point," with nearly two thirds of financial services leaders warning that the City's star will wane without intervention.
Planned rule changes for SME lending a ‘dramatic backward step’, challenger banks warn September 11, 2023 Richard Davies, chief executive of SME-focused challenger bank Allica, told Morning Wire that the changes would be a "dramatic backward step".
SVB collapse and rising rates help fintech Clearbank double deposits in six months September 6, 2023 Clearbank has doubled its deposit base in six months as it benefited from rising interest rates and attracted new clients in the wake of Silicon Valley Bank's (SVB) collapse.
Global watchdog warns over ‘very high leverage’ in hedge funds September 6, 2023 Leverage is now very high in parts of the $7 trillion hedge fund sector, G20 risk watchdog Financial Stability Board (FSB) warned on Wednesday, while noting that significant data gaps make it hard to get a full picture of vulnerabilities among "non-banks".