Banking

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.

Currency markets experience unprecedented volatility

Currency markets reacted to the UK's announcement of bail out measures to help the banking sector and central banks' rate cuts yesterday with a volatility that many traders have never experienced before according to currency specialists FC Exchange.

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.

Savers can relax, but now its all eyes on the MPC

Kevin Mountford, head of savings at moneysupermarket.com commented: "I think that UK savers can now relax.

British Bankers' Association welcomes government action

The British Bankers' Association welcomes government action that, in these extraordinary circumstances, are providing additional capital for banks and assistance to get lending started again.

CML welcomes Government action

The Council of Mortgage Lenders welcomes the measures announced by the Government, following consultation with the Bank of England and the FSA...

Financial support to the banking industry

After consultation with the Bank of England and the Financial Services Authority, the Government announces that it is bringing forward specific and comprehensive measures to ensure the stability of the financial system and to protect ordinary savers, depositors, businesses and borrowers.