Banking News
Liquidity support facility for Northern Rock
The Chancellor of the Exchequer has today authorised the Bank of England to provide a liquidity support facility to Northern Rock against appropriate collateral and at an interest rate premium.
CML comments on Northern Rock
Responding to the joint press release from the Bank of England, HM Treasury and the FSA, the Council of Mortgage Lenders emphasises that the issue facing lenders at the moment is one of liquidity and funding, not lending quality.
BBA welcomes customer satisfaction report
The British Bankers' Association has welcomed new research showing that the vast majority of customers are satisfied with their bank.
BBA LIBOR: Further easing of rates – the first ray of hope for the credit markets?
Sterling BBA LIBOR has dropped today across all maturities. The Overnight rate has dropped to 5.87375 from a peak of 6.2475 per cent on 3rd September. The key three-month Sterling BBA LIBOR rate has dropped again, from 6.90250 to 6.88000.
“Foolish” assertion that banks are better than building societies
Commenting on the Fool.co.uk’s assertion that banks are better than building societies, Nationwide Building Society’s executive director, Stuart Bernau, says: “We completely reject Fool’s assertion that banks are better than building societies.
BBA LIBOR: Signs of easing in the credit markets?
Three month Sterling BBA LIBOR eased back fractionally from its peak today. Having set consecutive highs against the Bank of England base rate since the beginning of the month, the rate eased from 6.90375 to 6.90250 per cent.
Banks are better than Building Societies
Building societies and banks have become so alike that many of us (33%) can’t distinguish between them.
The Co-Operative Bank creates $50m fund for world’s poor
The Co-operative Bank has created a special $50m (£25m) fund in order to support the development of small businesses in some of the world’s poorest countries.
Wills’ time-bomb must be defused
Urgent action is needed to defuse a looming ‘wills’ time-bomb – warns the National Consumer Council (NCC).
BBA LIBOR: Long-term Sterling rates hit record highs while short-term pressures ease
The European Central Bank’s intervention this morning to inject short-term liquidity into the market has brought overnight lending rates in the Eurozone sharply down, as indicated by the drop in overnight euro BBA LIBOR from 4.68 to 4.13125.
UK interest rates held at 5.75%
The Bank of England’s Monetary Policy Committee today voted to maintain UK interest rates at 5.75%.
Charges for cheques a possibility
More than half (53%) of 16 to 24 year olds never write cheques and a further 33% write cheques less than once a month, a survey by Defaqto has found.
Barclays help small businesses grow at networking events
With more than 60 per cent of small business owners finding networking events an important way to build up useful contacts for their business, Barclays today announces 18 new dates for networking workshops from 11 September, 2007 to help business owners increase their profits and improve their marketing.
Britain’s bosses opt for experience over youth
Britain’s SME bosses rate middle aged employees over younger employees, according to recent research from Abbey Business Banking.
Demand for independent financial advice remains high
Consumer demand for independent financial advice remained high during the first half of 2007, according to figures by Unbiased.co.uk, the find an Independent Financial Adviser search.