Banking News
Let's hope they are nicer than Northern Rock
Commenting on the Government committing another £37bn of taxpayers' money to be invested in banking giants RBS, Lloyds TSB and HBOS, Louise Cuming, head of mortgages at moneysupermarket.com, said: "Let us hope that RBS, Lloyds TSB and HBOS do more for borrowers than Northern Rock managed today.
Leeds Building Society raises £2,500 for Jeans for Genes!
Leeds Building Society raised £2,500 for the 2008 Jeans for Genes appeal. This was achieved by all staff jumping into their Jeans and donating £2 on Friday 3rd October, Jeans for Genes day 2008, thereby helping to ‘denimise the nation.'
Government plans to inject £37bn into RBS, Lloyds TSB and HBOS
Commenting on the Government's plans to inject up to £37bn into Royal Bank of Scotland (RBS), Lloyds TSB and HBOS, Kevin Mountford, head of banking at moneysupermarket.com, said: "This bail-out will no doubt change the shape of banking for years to come, but what will happen to consumers?
Moneyfacts: Governments bank rescue
Darren Cook, Head of Press at Moneyfacts.co.uk, comments: "Moneyfacts supports the unprecedented action announced by the Government this morning. These actions further demonstrate that Downing Street will indeed take any action that is needed to try and return the banking system to a level of normality.
Implementing support for the banking system
The Government is today taking decisive action to ensure our banking system remains on a sure footing in the face of continuing and exceptional instability across the world's financial markets.
Financial support to the banking industry
HM Treasury statement: With continuing exceptional instability in the global financial markets, the Government is today taking decisive action, by implementing the comprehensive set of measures it announced on 8 October, to make commercial investments in UK banks and building societies to help stabilise their position and support the long term strength of the economy.
Halifax announces changes to banking and savings statements
Halifax has announced a series of improvements to bank and savings account statements that will appear from the 26th October 2008.
UK companies put staff at risk through ID theft
Six in 10 Brits have been put at risk of ID theft as a result of their employers’ lax approach to data security.
UK rescue plan must provide hope for equity-owners
New Star's chief economist Simon Ward, comments: The success of the UK banking rescue plan will depend importantly on yet-to-be-announced terms and conditions.
Gaining a better understanding of the financial crisis
Kate Warne, Ph.D, CFA, Edward Jones Market Strategist: The recent events in the financial services industry and the market in general have left many feeling a little unsteady and confused. Here we try to answer some of the biggest questions surrounding this crisis.
Bank of England cuts interest rates by 0.5%
The Bank of England's Monetary Policy Committee today voted at a special meeting to reduce UK interest rates to 4.5%.
Landsbanki, Icesave and Heritable
Acting on the advice of the Bank and Financial Services Authority (FSA), and in light of announcements made by the Icelandic authorities in recent days, the Chancellor has taken action today to protect the retail depositors in two Icelandic owned banks: Icesave, a UK-based branch of Landsbanki and Heritable, a UK-based banking subsidiary of Landsbanki.
Recapitalisation of the UK banking system
The Bank of England believes the measures announced by the Government are an important step forward in stabilising the financial system.
UK bank-bail out - a new era for global banking
Commentary from Paul Niven, Head of Asset Allocation at F&C: Those who have studied previous instances of banking crises will have come to the conclusion well in advance of recent historic events that the Government would inevitably have to play a role in the recapitalisation of the banking sector through partial or full nationalisation.
HSBC welcomes UK government's announcement
HSBC welcomes the UK government's proposals to provide liquidity and inject capital into the UK banking system. These are important and necessary steps in restoring confidence to the sector.